FM to announce next stimulus package soon: DEA secy

FM to announce next stimulus package soon: DEA secy

NEW DELHI: Department of economic affairs (DEA) secretary Tarun Bajaj on Tuesday said that finance minister Nirmala Sitharaman will announce the next set of economic stimulus package soon and the government is currently looking at requests and comments received from the industry.
“We are actually discussing that. It is difficult for me to commit a date but we have received a lot of requests and comments from various sectors and we are looking into it. Very soon it will be unveiled. The finance minister will come out and speak to you on that,” Bajaj said at a virtual media briefing.
Expecting further improvement in economy in the coming months, the DEA secretary noted that uptick is much faster than anticipated by economists.
“India continues to see uptick in economy for past few months since the unlock. Despite Covid-19 situation, we feel that India growth story is intact,” Bajaj said.
On soaring food prices, Bajaj said that it is a temporary phenomenon and government has taken some measures to cool them down. He further said this has something to do with logistics and with new crop coming in there could be some moderation.
The DEA secretary further informed that Prime Minister Narendra Modi will hold one-to-one meetings with global investors from November 5. Follow up meetings will take place over the next two weeks.
In the past few months, finance minister Nirmala Sitharaman has announced a slew of measures to spur demand and ramp up capital expenditure in the economy.
First, 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 Covid-19 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.
Earlier this week, finance secretary Ajay Bhushan Pandey had also hinted that the government is working on another stimulus package but had refrained from giving a timeframe.
(With agency inputs)

Source From : Times Of India

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