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India Readies Stimulus Package To Boost Economic Growth

May 25, 2021 by Forex Winner Leave a Comment

India Readies Stimulus Package To Boost Economic Growth

India is working on a stimulus package that would drive recovery after a surge in COVID-19 cases that made the country a hotspot, according to Bloomberg.

  • The package being prepared by the finance ministry covers tourism, aviation and hospitality industries, and small and medium-sized firms.
  • Talks are still at the early stages and a timeframe has yet to be set. Officials have yet to comment on record.
  • India reported its second wave in March, with daily tallies nearing 200,000 cases. Local governments and states have since implemented measures to curb the spread.
  • The finance ministry in April relaxed rules on capital expenditures by government departments in a bid to drive more spending.
  • The country has given out 5 kilograms of free food to the urban poor per month. 
  • Urban areas have seen an exodus of millions of migrant workers who fled back to their rural homes.

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