However, the details of the meeting could not be determined (File)
New Delhi:
Prime Minister Narendra Modi discussed the state of the economy emerging from the world‘s toughest coronavirus shutdown on Tuesday.
According to sources, the Prime Minister held review meetings on various aspects of the economy and took stock of the financial sector on Monday.
As part of the exercise, sources said, on Tuesday he held a meeting with Minister of Finance Nirmala Sitharaman and senior ministry officials.
However, the details of the meeting could not be established.
Last week, a series of meetings were also held, during which presentations were made by different departments and think tank NITI Aayog.
To cope with the coronavirus crisis, the government announced in May one of the world‘s largest stimulus packages worth 20.97 lakh crore rupees with a focus on the survival of the business and by drawing a roadmap for reviving the economy.
The five-part stimulus package announced by Ms. Sitharaman from May 13 included a crore of Rs 5.94 lakh in the first tranche which provided a line of credit for small businesses and support for ghost banks and distribution companies. ‘electricity.
The second installment included free food grains for migrant workers stranded for two months and a credit to farmers, for a total of Rs 3.10 lakh crore. Expenditure on agricultural infrastructure and other measures for agriculture and related sectors in the third tranche amounted to Rs 1.5 lakh crore.
The fourth and fifth tranches focused on structural reforms, including easing the foreign direct investment (FDI) limit in defense, privatizing six other airports, and fully opening up coal mining to the private sector.
As a result of all of these measures, the government said, green shoots are visible in the economy, which is expected to contract by 4.5% in the current fiscal year.
Prime Minister Narendra Modi said last month that the economy was showing “green shoots” as the country emerged from the coronavirus blockade and stressed the importance of focusing on life and livelihoods.
