stimulus package

The Middle East conflict's fourth week is impacting global economies, with nations like Germany, Italy, Britain, Japan, and India facing significant energy cost pressures and supply chain vulnerabilities. Iran's role in the Strait of Hormuz is a key concern. Countries are implementing austerity and cost-control measures amid rising inflation and currency depreciation.

The government is working on the next stimulus package to support the economy amid positive signs of a fall in Covid-19 cases, a senior finance ministry official said on Wednesday. The government has received suggestions from various ministries and sectors on needed measures, Tarun Bajaj, economic affairs secretary at the ministry of finance, told a virtual conference.

Finance minister P Chidambaram on Friday said the three stimulus packages India had provided to the economy in the wake of the global financial crisis post 2008-09 lead to a higher fiscal deficit, inflation and slowdown in growth.

Congress MP and former Union minister P Chidambaram said on Tuesday finance minister Nirmala Sitharaman’s stimulus package was just another “sly attempt to dazzle the people with exaggerated numbers”, even as he reemphasised the need to grant cash transfers to the bottom half of families in India as recommended by Congress and “dozens of economists”.

India Inc has sought an economic package from the Centre to tide over the impact of the coronavirus outbreak and support small and medium businesses to keep their enterprises afloat while catering to the needs of the poor and informal sector workers.

Welcoming the latest round of stimulus announced by finance minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors.

IMF asked most Asian countries to continue with monetary and fiscal stimuli till signs of economic recovery are clear.

With the economic slowdown bottoming out, the stage could be set for a "gradual and caliberated" rollback of revenue giveaways contained in the stimulus packages.

The US Fed’s expected stimulus package to revive the world’s largest economy could lead to another strong flow of funds into the Indian market in the short run, boosting stock prices , but in the long run this could make the Indian market risky.

Prime Minister Manmohan Singh today said the scope and options for acceleration of stimulus package for the recovery of the economic crisis were "limited" but in the same breath not appeared to rule out any such possibility.

The Centre is likely to announce the final stimulus package in the "post-Covid era" in September or October, RBI director S Gurumurthy said on Tuesday. Speaking at a webinar organised by the Bharat Chamber of Commerce, Gurumurthy said the package of more than Rs 20 lakh crore announced by the central government can be described as an interim measure.

The US central bank has pumped more than $1 trillion into the economy after it slashed benchmark rates to near zero to combat the worst financial crisis since the Great Depression.

Carmakers have sought a stimulus package from the government to tide over slowdown blues as the weakening economy and poor buyer sentiment saw industry sales witness a decline for the eighth month in a row.

Of the Rs 20-lakh-crore package that Prime Minister Narendra Modi announced to defend the economy against coronavirus disruptions, fresh support maybe only around 60% of the offer as it counts the first financial stimulus of Rs 1.7 lakh crore announced in March as well as liquidity support of Rs 3.7 lakh cr in March and Rs 2 lakh cr in April offered by RBI.

Union finance minister Nirmala Sitharaman will announce the second tranche of measures of the government's Rs 20 lakh crore economic package at a press conference at 4 pm on Thursday.

Industry body CII on Thursday said more stimulus packages will affect the economy adversely rather than helping it.

PM Manmohan Singh said time is not ripe for withdrawal of stimulus packages given by the government to bail out economy from the impact of the global financial meltdown.

Finance minister Pranab Mukherjee on Wednesday said immediate exit from the stimulus packages may not be a prudent step for the government as it has to be timed with the global economic situation.

The government is likely to come out with a second stimulus package to propel economic growth, Commerce and Industry Minister Kamal Nath said on Thursday.

In addition to the two stimulus packages announced by Centre recently, the government is considering to announce sector specific stimulus packages by another four to six weeks, minister of state for industries Ashwani Kumar said.

The government's economic stimulus package, that many a market player felt will impact the economy only marginally, failed to enthuse...

India Inc has cheered the mega stimulus package announced by the government.

After Prime Minister Narendra Modi’s announcement of a Rs 20 lakh crore stimulus package to jump-start the economy which has taken a beating because of the prolonged lockdown, the Gujarat government has decided in principle to announce a package so that the benefits to various sections of the society will be doubled.

The government will unveil a second stimulus package to give the economy traction through measures aimed at aiding specific sectors, including auto & realty.

The Centre will not roll back the stimulus package given to the industry in wake of the global economic meltdown till signs of clear recovery are visible across recession-hit US and Europe.