Home Articles Central govt announce ‘fiscal stimulus package of Rs 35,000 core to battle...
KEY STORY
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The corona virus induced lockdown and gradual unlock of the economy of india is showing its effects now .The GDP
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The GDP growth contracted by a massive 23.9 percent this financial year.
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The central government ,in bid to revive the economy, plans to announce a fiscal stimulus package before the start of festival season.
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This relief package will bigger than self sufficient India package and the PM Garib kalyan package
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The central package government is likely to announce an incentive package of 3,5000 core, whose main focus will be on job in urban and rural areas ,said a senior official.
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The package will focus on urban job schemes, rural jobs, large scale infrastructure projects, new schemes for farmers and maximum cash transfer.
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The fiscal package can be announced before Dussehra.
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The festival season which is from October-December is very important for consumer based companies, especially the automobile sector and companies making electronic equipment.
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The central government wants to increase demand by announcing Fiscal stimulus package which is needed to push economic recovery.
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The central government also plans to launch job programs for urban and semi-urban areas on line of NREGS. The preparation of the job program is in the final stage.
CONCLUSION
This scheme will be implemented first in tier 3 and tier 4 cities i.e. small cities before big being implemented in big cities.
The Central Government is going to promote such projects under national infrastructure pipeline which creates more and more employment opportunities. Officials said that 20-25 such projects have been identified in which investing more money will create more jobs in the shortest possible time
