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Wednesday, January 19, 2022

Government will bring another incentive package! Finance Minister Nirmala Sitharaman gave the indication

A few days ago, the central government announced an incentive package for government employees.

In the midst of the Corona crisis, the government may announce another stimulus package. Finance Minister Nirmala Sitharaman said on Monday that the government had the option of another stimulus package to deal with the economic situation created due to the coronavirus epidemic. This was stated by Finance Minister Nirmala Sitharaman in the virtual launch program of 15th Finance Commission Chairman NK Singh’s book.

He said that the doors of the stimulus package have not been closed yet. He said that we have started estimating GDP decline now, we have got some inputs. We have to come up with the assessment before the public or in Parliament. Let us know that recently the Central Government announced an incentive package for government employees. Where it was said to give 10 thousand rupees to the government employee.

Former Deputy Governor of RBI Viral Acharya said, the government should put money in banks, the NPA is increasing

We have now started doing some kind of assessment on GDP contraction, we have got some input. We will have to come up with the assessment, whether in parliament or in public: Finance Minister Nirmala Sitharaman

Strict instructions to big PSU companies to increase spending

Finance Minister Sitharaman has given strict instructions to large public sector companies (PSUs) to increase spending. He has said that large PSU companies should complete 75 percent of planned capital expenditure for the year 2020-21 by December 2020. This will help in reducing the bad effect of Covid-19 on the economy of the country. In an online meeting with the Secretaries of the Ministry of Coal, Petroleum and Natural Gas and the Chairman and Managing Directors of the 14 Central Public Sector Undertakings associated with them, he appealed to them to expedite the work on capital schemes.

Even after the bad market conditions, the government can raise one lakh crore rupees by selling the shares of companies.

Let us know that in 2019-20, 14 central PSU companies had targeted a total capital expenditure of Rs 1,11,672 crore, but their expenditure was 104 percent i.e. Rs 1,16,323 crore. For the current financial year, these companies have set a capital expenditure target of Rs 1,15,934 crore. It has achieved a target of Rs 37,423 crore i.e. 32 per cent in the first half till September 2020, while it was 39 per cent i.e. Rs 43,097 crore in the first half of 2019-20.

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