Govt Working On Another Stimulus Package

The government is open to further stimulus measures to boost the coronavirus-hit economy, said Economic Affairs Secretary Tarun Bajaj on Wednesday.

At a virtual conference event organised by the CII, Bajaj said that the government has received suggestions from various ministries and sectors on measures needed.

Earlier this month, Finance Minister Nirmala Sitharaman had announced a slew of measures to push consumption and ramp up capital expenditure.

The government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of COVID-19 crisis. It was followed by the Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore in May, largely focussed on supply-side measures and long-term reforms.

Earlier this week, Sitharaman had said the option for another stimulus package has not been closed.

"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 sections of society," she said.

"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," Sitharaman had said.