Economic Affairs Secretary Tarun Bajaj told that the ministry has started working on the package
Finance Minister Nirmala Sitharaman said two days ago that the government is considering bringing another relief package in the current fiscal year. A day later, a colleague of the finance minister informed that the ministry is working on a third relief package. Economic Affairs Secretary Tarun Bajaj said, “A day ago, Finance Minister Nirmala Sitharaman mentioned it. They have asked us to work on it and we are actually working on it.”
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Tarun Bajaj said, “We are working on it based on the suggestions received from different industries. In this difficult period it is very important to promote the economy.”
Earlier on Monday, Finance Minister Nirmala Sitharaman said at the virtual launch of the 15th Finance Commission chairman NK Singh’s autobiography that the government was preparing to bring another relief package.
Earlier, the finance minister has announced two relief packages. Their value is 1.5% of GDP. The first package was introduced in May 2020 under the Self-Reliant India Scheme. The second package is given by the government a week ago. However, critics in this case say that due to the decision taken by the government not to increase the fiscal deficits in this difficulty, India is seeing more recession than other countries.
The second relief package was released by the government on 12 October. In this package, the government has made several important decisions including giving incentives to central employees. This package is worth Rs 46,675 crore. This package was given by the government to bring the economy back on track by increasing demand during the festive season.
