PM Modi, Sitharaman To Meet Today To Finalise Second Stimulus Package

Friday’s meeting follows a wide range of deliberations held within the government and with eminent experts.

Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman will again meet on Friday to finalise a second stimulus package for industry, the poor, and farmers.

An announcement is expected within the next 24-48 hours. Friday’s meeting follows a wide range of deliberations held within the government and with eminent experts. However, there may not be a “big-bang” stimulus package and the government thinking is to go for smaller, targeted announcements.

Senior officials in the Prime Minister’s Office had a videoconference with those in the finance ministry, NITI Aayog, members of the Economic Advisory Council (EAC) to the Prime Minister, and independent experts.

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Those who are learnt to have participated in the meeting include former Reserve Bank of India (RBI) governor Urjit Patel, EAC Chairman Bibek Debroy, EAC Member Sajjid Chenoy, 15th Finance Commission Chairman N K Singh, and National Institute of Public Finance and Policy Director Rathin Roy.

On the government’s side, those who attended included Cabinet Secretary Rajiv Gauba, Principal Secretary to PM PK Mishra, Economic Affairs Secretary Atanu Chakraborty, NITI Aayog Vice Chairman Rajiv Kumar, NITI Aayog Chief Executive Officer Amitabh Kant, Ratan Watal (also of the NITI Aayog), and Chief Economic Advisor Krishnamurthy Subramanian.

Source: Business Standard

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