Explained: Why latest stimulus lacks firepower to boost festive season demand
India TodayThe government recently announced fresh stimulus measures to boost demand during the grand festival season in India. The central government offered two schemes — primarily for its employees — to boost consumer spending, and requested states and private companies to extend the benefits. Unlike central government employees, many workers in the private sector may not even get their bonuses this year, making it harder for them to spend more during the festive season. Limited impact Rating agency Moody’s on Thursday said the fresh stimulus measures announced by the government will offer limited support to growth. The government's latest round of stimulus worth Rs 46,700 crore for boosting consumer demand is about 0.2 per cent of the GDP for the year ending March 2021, said the agency.
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