- April 21, 2021
- Posted by: admin
- Category: Daily News
- Despite a grim economic outlook amid rising Covid-19 infections and lockdowns in major cities, a fiscal stimulus package announcement by the Centre looks unlikely for now, a senior government official told Business Standard.
- Stating that it would be premature to think of a fiscal stimulus package, the official stated that there was no real cause for alarm nationally and that some localised issues could be addressed later after assessing the impact.
- He further added that unlike 2020’s total lockdown, public transport including the railways and airlines, is running and the restrictions on movement are localised and, in some cases, are partial rather than total.
- Another official added that the impact on GDP would not be significant due to lockdowns in some states and the estimates made in the Budget have been conservative.
- On her part, Finance Minister Nirmala Sitharaman stated that there should be complete trust between the government and industry and vice versa to sustain growth.
- She exuded confidence that despite an upsurge in coronavirus infections, 2021 will not be about Covid-19 as the Centre has already taken several steps to ensure that revival of the economy continues.