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PM Modi may unveil another set of economic stimulus measures, says report

PM Modi may unveil another set of economic stimulus measures, says report

PM Modi may unveil another set of economic stimulus measures, says report
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By CNBCTV18.com Aug 12, 2020 4:48:33 PM IST (Published)

Amid the economic fallout caused due to the coronavirus outbreak, the government may soon roll out another set of stimulus measures and Prime Minister Narendra Modi himself will unveil these steps, a report said.

Amid the economic fallout caused due to the coronavirus outbreak, the government may soon roll out another set of stimulus measures and Prime Minister Narendra Modi himself will unveil these steps, a report said.

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Quoting sources, Economic Times reported that the government is likely to announce fresh measures which may including big-ticket infrastructure projects and policy changes, to make local industry more competitive, as part of efforts to rebuild the economy.
These steps could also include an initiative to reorient the tax administration and the measures could be announced as early as August 13, the report added.
Sources told the newspaper that the move to make industry more competitive will be part of the Atmanirbhar Bharat Abhiyan.
Earlier, the government had announced Pradhan Mantri Garib Kalyan Yojana and Atmanirbhar Bharat revival programmes.
The new proposals include a more digitally focussed tax administration, frontloading of defence purchases and expediting spending on key infrastructure projects that will have to be completed within a deadline, the report added quoting people aware of the matter.
The proposals on manufacturing will emphasize on enhancing domestic industry’s competitiveness while making it easier and more attractive for foreign manufacturers to set up operations in the country, the report said.
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