Another stimulus package on anvil? Centre eyes economic revival amid fall in Covid-19 cases
New Delhi | Jagran Business Desk: In a bid to revive the pandemic-hit economy, the central government is working on the next stimulus package mid positive signs of a fall in COVID-19 cases in India. The government has received suggestions from various ministries and sectors on needed measures, news agency Reuters reported quoting a senior finance ministry official on Wednesday.
Speaking at a virtual event organised by the Confederation of Indian Industry, Economic affairs secretary Tarun Bajaj said finance minister Nirmala Sitharaman has directed officials to explore another stimulus package and the ministry is working on it.
"The government has received suggestions from various ministries and sectors on needed measures. While preparing for the next year’s budget, we are also looking at expenditure for this year and requirements of various ministries," he added.
The development comes days after finance minister Nirmala Sitharaman's government did not rule out the possibility of another stimulus package for the purpose of softening the huge economic impact
“We have now started doing some kind of assessment on GDP contraction, we have got some input. We will have to come up with the assessment, whether in Parliament or in public,” Nirmala Sitharaman said at the launch of book by NK Singh, Chairperson of 15th Finance Commission.
On October 12, Sitharaman announced Travel (LTC) cash voucher and special festival advance schemes for central government employees to help them spend more on consumer durables and higher capital expenditure for both the Centre and states. Earlier in May 2020, government had announced five tranches of the Atma Nirbhar package, worth Rs 20 lakh crore.
Continuing the downtrend and hinting at a possible flattening of COVID-19 curve, India, during the last 24 hours, reported 54,044 new cases of coronavirus taking the overall COVID-19 caseload in the country past 76-lakh mark. The death toll due to the deadly pathogen in the country has also climbed up to near 1.16 lakh after 717 new fatalities were recorded in India during the last 24 hours.
Posted By: Rakesh Kumar Jha