Finance Minister Nirmala Sitharaman to announce incentive package soon

On November 03, 2020, Economic Affairs Secretary Tarun Bajaj said that Finance Minister Nirmala Sitharaman will soon announce another stimulus package to speed up the economy affected by the Coronavirus crisis. In a conversation with reporters through video conference, he said that the Finance Ministry is looking into the suggestions and requests received from various sectors of the economy.

Tarun Bajaj further said that despite the situation of corona virus epidemic, our growth, which we feel is intact, is now being accepted by others too, who are ready to invest in India. We are seeing a steady recovery in the economy for the last few months after the opening of the economy when the lockdown is completed.

Regarding the high prices of food items, Bajaj said that this is temporary and the government has taken several measures to control prices. He said that since the relaxation of the ‘lockdown’, the economy has been showing improvement for the last few months and the situation will get better in the coming months. He said that despite the Kovid-19 situation, India’s growth story remains intact.

The IMF report mentions that India’s growth rate could be 8.8 percent in the next financial year, which is the best for the world’s major economies. Economic Affairs Secretary Tarun Bajaj said that Prime Minister Narendra Modi will preside over a conference on November 05 with leading global investors including sovereign wealth funds with a total AUM of about $ 6 trillion.