The government is working on the next stimulus package to provide a push to the economy that is needed now, Department of Economic Affairs Secretary Tarun Bajaj said Wednesday. The government is also considering an extension of the Production-linked incentive (PLI) scheme to 7-8 more sectors to promote domestic manufacturing, while a new public sector enterprises policy will be put up before the Cabinet soon.
In order to attract capital into Indian financial markets, Prime Minister Narendra Modi would meet 15 leading investment houses from across the world soon to listen to their views, Bajaj said. The finance ministry and the Reserve Bank of India are also in advanced discussions to get an entry into global bond indices — a move that would provide further depth and liquidity to the government securities market. These steps are being taken to support economic activity, he said.
“I would only reiterate (on the industry suggestion) for an increase in the government expenditure. The Finance Minister (Nirmala Sitharaman has recently) mentioned that, she has told us to work on that (stimulus) and we are actually working on that. Based on various suggestions we have received from all of you, we will be working on that and trying to do something as well so that the push to the economy, which is very much needed in these stressful times, is provided,” he said.
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