PM’s meetings with key ministers raise hope of a second stimulus package

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A series of meetings Prime Minister Narendra Modi had with key minister and officials of economic ministries has raised hopes of a second stimulus package for sectors impacted by lockdown to curb spread of Covid-19.

Reports said that the prime minister had extensive discussions with Home Minister Amit Shah and Finance Minister Nirmala Sitharaman on Saturday. He is also expected to meet ministers of key economic ministries such as Micro, Small & Medium Enterprises later in the day. 

The finance ministry, which deferred release of monthly GST collection numbers on Friday, is also scheduled to make a detailed presentation to the prime minister later in the day on the state of economy and several initiatives that it plans to undertake to stimulate Indian economy.

The prime minister had earlier held consultations with different ministries including civil aviation, labour and powe. He had detailed deliberation with commerce and MSME ministries among others on Thursday with focus on attracting both domestic and overseas investment and revival of small businesses in the country so that the recovery process is hastened.

During these meetings both the home minister and the finance minister were present.

To mitigate hardships faced by the bottom of the pyramid, the government in late March had announced a Rs 1.7 lakh crore stimulus package comprising free foodgrains and cooking gas to poor and cash doles to poor women and elderly.

Sources said the government is considering to announce a second dose of relief measures for the segment and a stimulus package for India Inc shortly (with inputs from agencies)

 

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