Modi government is ready to give another 'booster dose' to revive ailing economy

New Delhi, September 17, 2019, Wednesday

During the April-June quarter, India's economic growth rate dropped to the lowest level in six years at 5%. The Modi government is pushing Eddy Choti to revive the downtrodden Indian economy.

Yet after giving a number of concessions and incentives to real estate and exporters on Saturday, the government is now considering giving another booster dose to the economy. The government is trying to accelerate economic growth and has announced a number of concessions and incentives in the past one month.

According to information from finance ministry sources, preparations for giving the economy another booster dose have been completed and Finance Minister Nirmala Sitharaman can announce it in the next few days.

Of course, it is not clear where the sector will be encouraged in this time booster dose.

The government announced 3 packages in 23 days

On August 23, it made relief ads for the auto sector, including withdrawal of surcharges from foreign investors.

On August 30, the finance minister announced the merger of 10 government banks

September 14 announces new scheme for export promotion and relief package for real estate

The 37th meeting of the GST Council is to be held on September 20 next. There are likely to be a debate on tax rate changes for auto, FMCG, hotel and some other sectors. Earlier, on September 19, Finance Minister Nirmala Sitharaman will hold a meeting with top officials of government banks. Discussions can be made to leverage the benefits of lowering interest rates to consumers.

It may be recalled that Reserve Bank Governor Shaktikanta Das expressed the expectation in an interview on Monday that the government would continue to announce a relief package for the economy.