Another Package To Stimulate Economy Not Ruled Out, Says Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman yesterday (19 October) hinted that the Government could come up with a third stimulus package in the ongoing financial year to give a fillip to economic activity, reports Livemint.

Speaking in a panel discussion held at the virtual launch of the autobiography of the incumbent Chairman of the 15th Finance Commission, NK Singh, Sitharaman said, "I have not closed the option for another stimulus package if it comes out to be, because every time we announced one, it has been after a lot of consideration of inputs which have come from various different sections of the society. Then we sit and work it out within the ministry and prime minister’s office and then take a final call. So I have not closed the option to come up with one more stimulus."

This comes merely days after Sitharaman had announced a stimulus package worth Rs 46,675 crore meant to boost spending by consumers and incentivising them to do so. It was primarily targeted at the central government employees. It also had components meant to help the States boost capital expenditure.

Furthermore, last week, Expenditure Secretary TV Somanathan had also said that another round of stimulus cannot be ruled out.