FinMin hints at another stimulus to lift economy

FinMin hints at another stimulus to lift economy

Photo for representation only

New Delhi, October 21

The government is open to further stimulus measures to boost the coronavirus-hit economy, Economic Affairs Secretary Tarun Bajaj said on Wednesday.

Finance Minister Nirmala Sitharaman had announced a slew of measures to spur demand and ramp up capital expenditure earlier this month. This was the third stimulus package since the outbreak of the Covid pandemic.

Fourth package since Covid outbreak

  • Finance Minister Nirmala Sitharaman had announced a slew of measures to spur demand and ramp up capital expenditure earlier this month
  • The government had announced a Rs1.70 lakh-crore Pradhan Mantri Garib Kalyan Yojana in March to protect the poor and vulnerable sections from the impact of the Covid crisis
  • It was followed by the Aatmanirbhar Bharat Abhiyan package of Rs20.97 lakh crore in May, largely focused on supply side measures and long-term reforms

The government had announced a Rs 1.70 lakh-crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of the Covid crisis.

It was followed by the Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore in May, largely focused on supply side measures and long-term reforms.

“So I think with all these efforts and as I said, as the Finance Minister said, we are seeing what all other things can be done (to boost economy),” Bajaj said while addressing a virtual event organised by CII. Earlier this week, Sitharaman had said the option for another stimulus package has not been closed.

“I have not closed the option for another stimulus package if it comes out to be, because every time we announced one, it has been after a lot of consideration of inputs which have come from various sections of society. “Then we sit and work it out within the ministry and Prime Minister’s Office and then take a final call. So, I have not closed the option to come up with one more stimulus,” Sitharaman had said. — PTI

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