NEW DELHI: Department of Economic Affairs (DEA) Secretary Tarun Bajaj said Tuesday that Finance Minister Nirmala Sitharaman will announce the next set of stimulus package soon and the government is examining the 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 many requests and comments from various sectors and we are investigating it. Very soon it will be released. The finance minister will come out and talk to you about it,” Bajaj said at a virtual press conference.
With the expectation of further improvement in the economy in the coming months, the DEA secretary noted that the rebound is much faster than economists anticipated.
“India continues to see a rebound in the economy over the last few months since unlocking. Despite the Covid-19 situation, we feel that India’s growth story is intact,” Bajaj said.
On the rise in food prices, Bajaj said it is a temporary phenomenon and the government has taken some measures to cool them down. He also said that this has something to do with logistics and that with the arrival of new crops there could be some moderation.
The DEA secretary also reported that Prime Minister Narendra Modi will hold individual meetings with global investors from November 5. Follow-up meetings will take place over the next two weeks.
In recent months, Finance Minister Nirmala Sitharaman has announced a series of measures to stimulate demand and increase capital spending in the economy.
First, the government had announced a Pradhan Mantri Garib Kalyan Yojana (PMGKP) of Rs 1.70 crore in March to protect the poor and vulnerable from the impact of the Covid-19 crisis. The Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore followed in May, focusing mainly 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 refrained from giving a deadline.
(With contributions from the agency)
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