Government can bring another relief package! NITI Aayog signs, will take steps if the situation worsens
The fast growing cases of Corona have started to affect the economy of the country as well. NITI Aayog has expressed concern over this situation.
Conditions tougher than before
Many sectors are affected
Economy will grow by 11 percent
New Delhi: One More Stimulus Package: The second wave of Corona virus in the country has posed a big challenge to the government. If the Corona epidemic poses a threat to the country’s economy, then another economic relief package can also be given, indicated by Deputy Chairman of NITI Aayog, Rajiv Kumar. NITI Aayog has said that the country needs to be prepared for more uncertainty in terms of consumer and investment. The Commission says that the government will do the same with the fiscal measures if necessary. Let us tell you that during the first wave of Corona epidemic, the government announced a huge relief package of 20 lakh crore rupees.
Conditions tougher than before
NITI Aayog Vice Chairman Rajiv Kumar said that due to the increasing outbreak of Coronavirus, the situation has become more difficult than before. Along with the increasing number of corona infects, the country is also grappling with the increasing number of dead. Due to this, various state governments are being forced to ban the freedom of movement and movement of people. Rajiv Kumar said that India was on the verge of defeating COVID-19 completely, but the Corona strain of Britain and other countries in the country has made the situation more difficult this time. He hoped that despite such a bad situation, India’s economy will grow by 11 percent in this financial year.
Many sectors are affected
He said that apart from the direct impact of the corona epidemic on many sectors including the service sector, its indirect effects on economic activities will also be seen. In such a situation, both consumers and investors need to be prepared.
On the question whether the government is considering some new measures to give a boost to the economy. On this, the Vice President of Niti Aayog said that after assessing the direct and indirect effects of the second wave of Corona, the Finance Ministry will react to this issue. Rajiv Kumar said, ‘As you have seen the response of RBI. The bank has taken several steps to increase the speed of the economy. I am sure that the government will also respond to this with necessary fiscal measures. The Reserve Bank had left the benchmark interest rate unchanged at 4 percent. Although maintained an aggressive stance to boost the economy.
Economy will grow by 11 percent
Let us tell you that after the Corona epidemic started last year, the central government announced the ‘Atmanbir India’ package to give a boost to the economy in the country. In this announcement, a package of about 27.1 lakh crores was announced, more than 13 percent of the national gross domestic product (GDP). Regarding the growth of the economy in the current financial year, Kumar said that various estimates suggest that it will be around 11 percent.
Earlier, RBI had also reviewed the policy for 2021-22 and had projected an increase of 10.5 percent. According to official estimates, the country’s economy was projected to grow by 8 percent in 2020-21.
