Finance Minister Nirmala Sitharaman addresses the media on key economic issues. Earlier this month, Finance Minister Sitharaman said the revival of the economy after the Covid shutdown was clearly visible and that the indicators looked positive. This view was also shared by the Reserve Bank of India Shaktikanta Das last week when announcing the central bank’s monetary policy.
Here are the live updates:
–LTC Cash Coupon, special festival advance program to be announced to boost consumer spending.
–The proposals that are presented are designed in a way that they can stimulate demand by advancing or advancing part of the expenditure with some compensatory changes. Others are directly linked to an increase in GDP.
–The COVID-19 pandemic has negatively affected the economy. The needs of the poor and the weakest have been addressed in the Atma Nirbhar Bharat package. Supply constraints have eased a bit, but consumer demand has yet to get a boost.
-Today we have some proposals to stimulate demand in the economy
-The press conference of Finance Minister Nirmala Sitharaman begins on economic issues.
“Relative to pre-COVID levels, several high-frequency indicators point to easing of contractions in various sectors of the economy and the emergence of growth impulses,” the RBI chief said.
The central bank expects real GDP to decline 9.5% for this fiscal year, with risks sloping to the downside. However, if the current recovery momentum gains ground, a faster and stronger recovery is eminently feasible, the RBI chief said.
The Minister of Finance, Nirmala Sitharaman, will later preside over the meeting of the Council of the Tax on Goods and Services (GST) through videoconference. The meeting will take place at 4 pm.
Earlier this month, at a crucial meeting, the GST Council failed to reach consensus on ways to compensate states, as the panel split on the use of loans as a tool.
Briefing reporters after a marathon panel meeting, Finance Minister Nirmala Sitharaman said that 21 states had opted for one of two options that the Center had previously suggested to borrow to cover the shortfall in revenue collections. GST.
But some states did not opt for either option, and the council decided on further deliberations, he said.
.
