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More stimulus package in coming days: Sitharaman

By Staff Reporter

GUWAHATI, Aug 29 - The stimulus package announced by the government last week covering some major sectors have received positive response from the industry and more such measures are expected in the coming days with a view to revive growth in the economy, Finance Minister Nirmala Sitharaman said here today.

Addressing the media after holding a meeting with tax officials and other tax sector stakeholders, Sitharaman said that despite the recent economic slowdown the government will continue to public spending, with special focus on infrastructure building.

�As of now there has been very positive response to the stimulus measures,� she said, adding that more such measures are on the anvil.

The Finance Minister added, �If you compare the economies globally, then we (the Indian economy) are still the fastest growing.�

The Finance Minister said that the government�s priority is to give a boost to consumption.

She said the stimulus measures were announced targeting specific sectors like automobile, NBFCs and real estate, following certain demands made by the concerned sectors to address issues concerning liquidity and solvency, besides to tide over the sluggish growth and boost demand.

She said that the NDA government, during its first term, made a lot of public spending and it is committed to continuing the trend. Sitharaman said that infrastructure building will be a major component of public spending.

Asked what kind of additional stimulus measures the government is thinking of providing and which sectors are likely to be covered, she said, �You will hear about it when I make the announcements.�

She said that the government�s latest announcements with regard to ensuring faster refund of GST will also help the economy and industry.

With regard to charges leveled by the Congress party regarding the government� alleged failure on the economic front, Sitharaman said that the 10-year-rule of the UPA was marked by double-digit inflation and �scandal after scandal�.

�They led the country in corruption and in exploiting public assets. They could not control prices... Congress has not yet learnt the lesson from its successive defeats in 2014 and 2019. Congress party is not fit to accuse us,� said the Minister.

In reply to a question, she categorically said that the government has no plans to introduce Income Tax for Scheduled Tribe people residing in any area specified in the Sixth Schedule of the Constitution.

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More stimulus package in coming days: Sitharaman

GUWAHATI, Aug 29 - The stimulus package announced by the government last week covering some major sectors have received positive response from the industry and more such measures are expected in the coming days with a view to revive growth in the economy, Finance Minister Nirmala Sitharaman said here today.

Addressing the media after holding a meeting with tax officials and other tax sector stakeholders, Sitharaman said that despite the recent economic slowdown the government will continue to public spending, with special focus on infrastructure building.

�As of now there has been very positive response to the stimulus measures,� she said, adding that more such measures are on the anvil.

The Finance Minister added, �If you compare the economies globally, then we (the Indian economy) are still the fastest growing.�

The Finance Minister said that the government�s priority is to give a boost to consumption.

She said the stimulus measures were announced targeting specific sectors like automobile, NBFCs and real estate, following certain demands made by the concerned sectors to address issues concerning liquidity and solvency, besides to tide over the sluggish growth and boost demand.

She said that the NDA government, during its first term, made a lot of public spending and it is committed to continuing the trend. Sitharaman said that infrastructure building will be a major component of public spending.

Asked what kind of additional stimulus measures the government is thinking of providing and which sectors are likely to be covered, she said, �You will hear about it when I make the announcements.�

She said that the government�s latest announcements with regard to ensuring faster refund of GST will also help the economy and industry.

With regard to charges leveled by the Congress party regarding the government� alleged failure on the economic front, Sitharaman said that the 10-year-rule of the UPA was marked by double-digit inflation and �scandal after scandal�.

�They led the country in corruption and in exploiting public assets. They could not control prices... Congress has not yet learnt the lesson from its successive defeats in 2014 and 2019. Congress party is not fit to accuse us,� said the Minister.

In reply to a question, she categorically said that the government has no plans to introduce Income Tax for Scheduled Tribe people residing in any area specified in the Sixth Schedule of the Constitution.