Modi government thinks relief package of Rs.50,000 crores will soon be announced in the announcement
Modi government thinks relief package of Rs.50,000 crores will soon be announced in the announcement
New Delhi: Modi government can release a relief package of Rs 50,000 crore to revive economic growth. According to the news agency Reuters, the central government could spend an extra Rs50,000 crore ($ 7.7 billion) by March 2018. This will not make it possible for the government to achieve the target of fiscal deficit. According to the news agency, the revival plan of the Economic Growth Plan will be announced shortly. Fiscal deficit can increase by 0.5 percent from the relief package.
Jaitley gave the signal
Earlier on Wednesday, Finance Minister Arun Jaitley said the government is looking for ways to accelerate economic growth.
- He said that government can release relief package for economic revival.
It will be announced only after discussions with Prime Minister Narendra Modi.
In the June quarter, the GDP growth rate has dropped to 5.7 percent. This is the lowest rate in three years.
The government has prepared action points
According to sources, the government will take into account the reason for the economic slowdown and cause and action points based on the sector. High level disks have been done with different ministries. Jaitley said that all the indicators have been reviewed during the last two years. Many other ministry officials, secretaries and other government experts have been discussing several times. There was still more meeting for more than two hours on Tuesday. Among them were Commerce Minister Suresh Prabhu, Railway Minister Piyush Goyal and Vice Chairman of Policy Commission Rajiv Kumar and Chief Economic Advisor Arvind Subramanian.
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