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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.

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