Tag: economic stimulus

“The next 25 years will be very critical for India. We have to work towards maintaining the growth momentum. So together with the central bank, the ministry of finance will be working out a pathway which will be predictable and consistent and which will give every stimulus required for growth of the Indian economy,” Sitharaman said while speaking at an event organised by Elara Capital. Prime Minister Narendra Modi in his address to the nation on August 15 had called upon citizens to make India a developed nation when it celebrates 100 years of Independence in 2047. Read more

Equity market came under heavy selling pressure on today(14th May 2020) even after the Union Finance Minister Nirmala Sitharaman Wednesday announced a set of stimulus measures of nearly Rs 5.94 trillion to support micro, small, and medium enterprises (MSMEs), non-banking financial companies (NBFCs), and power distribution companies. The S&P BSE Sensex tanked as much as 703 points or over 2 percent during the day while NSE's Nifty slipped nearly 200 points. On the sectoral front, barring FMCG and pharma, all the indices on the NSE were trading in the negative territory. Read more

India’s biggest-ever economic stimulus, dubbed as ‘Atma Nirbhar Bharat Abhiyan’, adds up to Rs 20,00,000 crore, which would be roughly 10 percent of India's GDP. Analysts expect the package to include loan waivers for MSMEs, increased spending, GST rate cuts, and credit guarantees to incentivise lending to MSMEs. At $266 billion, the stimulus value in dollar terms is higher than the GDP of 149 countries such as Vietnam, Portugal, Greece, New Zealand, and Romania. It almost equals Pakistan's annual GDP of $284 billion. At $266 billion, the stimulus value in dollar terms is higher than the GDP of 149 countries such as Vietnam, Portugal, Greece, New Zealand, and Romania. It almost equals Pakistan's annual GDP of $284 billion. Read more