Page 6 - The Indian EYE 112720
P. 6

BIG STORY                                                             NOVEMBER 27, 2020  |        The Indian Eye                          6





































































        10.8 per cent compared to the  support provided to businesses                Earlier,  Union  Finance  kind of’ assessment on gross
        earlier forecast of 10.6 per cent. and the push to scale up pro- Minister Nirmala Sitharaman  domestic product (GDP) con-
            Moody’s also forecast gov- duction under the PLI scheme  on Monday said that the Cen- traction.
        ernment  debt  to  increase  to  could increase employment in  tre has not closed the option                      Speaking at the launch of a
        89.3 per cent of GDP in 2020  India’s persistently soft labor  for  another  stimulus  package  book by NK Singh, Chairperson
        and decline to 87.5 per cent in  market.                                 and has started doing ‘some  of the 15th Finance Commis-
        2021, from an already elevated                                                                                sion, the Finance Minister said,
        72.2 per cent in 2019.                                                                                        “We have not closed the option
            “The country’s mixed track                                                                                for another stimulus package.
        record on revenue-raising mea-                                                                                We have now started doing some
        sures lowers prospects for fiscal                                                                             kind of assessment on GDP
        policy-driven budget consoli-                                                                                 contraction, we have got some
        dation. A sustained increase in                                                                               input. We will have to come
        GDP growth would therefore                                                                                    up with the assessment, wheth-
        be a major driver of any dura-                                                                                er in parliament or in public.”
        ble future fiscal consolidation,”                                                                                 Earlier today, Sitharaman
        the report stated.                                                                                            held a video conference with
            It also said general govern-                                                                              Secretaries of Ministry of Pe-
        ment  fiscal  deficit  should  re-                                                                            troleum and Natural Gas, and
        main wide, reaching around                                                                                    Ministry of Coal, along with
        12 per cent of GDP, with some                                                                                 the chairman and managing
        upside risk, in 2020 and nar-                                                                                 directors (CMDs) of 14 cen-
        rowing to about 7 per cent of                                                                                 tral public sector enterprises
        GDP over the medium term,                        congress members take a protest march against                (CPSEs) belonging to these
        still above the deficit of 6.5 per          the downfall of the indian economy on the 4th anniversary of      Ministries, to review the cap-
        cent of GDP in 2019.                               demonetization by the BJP government (ANi)                 ital  expenditure  (CAPEX)  in
            Moody’s suggested the wage                                                                                this financial year.


                                                               www.TheIndianEYE .us
   1   2   3   4   5   6   7   8   9   10   11