Thursday 4 June 2020
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business-standard - 12 days ago

Future actions to stimulate economy will depend on how COVID crisis pans out: FM

A day after the RBI projected economic contraction in 2020-21, Finance Minister Nirmala Sitharaman on Saturday said future fiscal policy actions to stimulate the economy will depend on how COVID-19 pandemic pans out. The government has already announced a Rs 20.97 lakh crore economic package, which includes Reserve Bank s Rs 8.01 lakh crore worth of liquidity measures till May 17. Sitharaman said making a realistic assessment of economic growth would be difficult at this point of time as there is no clarity on when the pandemic would retreat. I m not closing the door at all. I want to keep getting inputs from industry, implement what we have announced and depending on how things pan out we have to respond accordingly. We are only 2-month old in this year, we have 10 months to go, Sitharaman said in a conversation with BJP leader Nalin Kohli. The Reserve Bank on Friday had said the impact of COVID-19 is more severe than anticipated and the GDP growth during 2020-21 is likely to ...

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