India plans to announce another round of economic stimulus soon, says Economic Affairs Secretary
Addressing the media here, he said that
Bajaj's statement comes just over a week after he said that the Centre is open for further measures to boost the economy.
AdvertisementLast month, the Finance Minister had also said that the Centre has not closed the option for another stimulus package.
In May, the government came up with the much talked-about Rs 20 lakh crore 'Aatmanirbhar Bharat' economic package. Both the rounds of stimulus so far have received more flak than appreciation from the industry and experts, as many are of the opinion that they are inadequate, more so in terms of boosting demand.
A recent Moody's report said that that the second round of fiscal stimulus amounts to just 0.2 per cent of the country's real GDP forecast for the financial year 2021 and in total, the two rounds of stimulus bring the government's direct spending on coronavirus-related fiscal support to just around 1.2 per cent of GDP.
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