Insta
Government May Announce Second Stimulus Package For Post-Lockdown Economic Resurgence: Report
Swarajya Staff
May 30, 2020, 01:36 PM | Updated 01:36 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The Government is said to be working on another stimulus package of fiscal, monetary and policy measures to unleash the animal spirits of the economy once the nationwide lockdown is completely lifted, reports Hindustan Times.
The said package of measures is expected to be unveiled at least after a month, only after a thorough assessment of the Rs 20.97 lakh crore Aatmanirbhar Bharat package already announced. The second package will be prepared after discussions being held with all the stakeholders in the economy.
The development comes at a time when the Government is said to be worried about the slump in demand and consumption in the economy. The economy is staring at severe contraction and the growth in the January-March 2019 quarter was recorded at 3.1 per cent.
Meanwhile, it should be noted that the announcement of the first stimulus package was completed just a little over 10 days ago on 17 May. While the same is expected to add to the economy's strength to rise back, the introduction of a second stimulus package is likely to add further energy to the resurgence.
The report quoted an officer as saying that the government has kept all its “options open” and will respond with appropriate measures to streamline supplies and boost demand to put the economy on a higher growth trajectory.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.