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stimulus package

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Finance minister Nirmala Sitharaman during the pre-budget meeting with experts of water and sanitation sectors, at North Block in New Delhi on Friday.(PTI File Photo)

FM Nirmala Sitharaman promises support for business sectors battered by pandemic

Mint, New Delhi | By HT Correspondent
PUBLISHED ON DEC 19, 2020 05:57 AM IST
Sitharaman’s emphasis on higher healthcare spending and supporting the industries such as hospitality and aviation indicate the general direction of the next budget.
Data released Friday by the National Statistical Office showed industry normalizing faster than the service sector.(PTI File Photo)
Data released Friday by the National Statistical Office showed industry normalizing faster than the service sector.(PTI File Photo)

India’s economy contracts by 7.5%, enters ‘technical recession’

New Delhi | By Associated Press | Posted by Kanishka Sarkar
UPDATED ON NOV 27, 2020 10:06 PM IST
The contraction occurred despite the government’s lifting of a strict two-month lockdown imposed across the country in March after the outbreak of the pandemic. A country enters a technical recession if its economy contracts for two successive quarters.
Finance minister Nirmala Sitharaman had already announced about the capital infusion proposal on November 12 while unveiling the third stimulus package, AatmaNirbhar Bharat 3.0, to boost the economy(Sanjeev Verma/HT PHOTO)
Finance minister Nirmala Sitharaman had already announced about the capital infusion proposal on November 12 while unveiling the third stimulus package, AatmaNirbhar Bharat 3.0, to boost the economy(Sanjeev Verma/HT PHOTO)

Cabinet clears Rs 6,000 cr for NIIF

Livemint, New Delhi | By HT Correspondent
UPDATED ON NOV 26, 2020 01:19 AM IST
The government would infuse Rs 6,000 crore in the NIIF debt platform in the next two years to help it raise up to Rs 1.10 lakh crore for investments, minister of information and broadcasting Prakash Javadekar said after the Cabinet meeting
CPI(M) general secretary Sitaram Yechury said in a tweet that the latest announcement was a gimmick.(Amal KS/Hindustan Times photo)
CPI(M) general secretary Sitaram Yechury said in a tweet that the latest announcement was a gimmick.(Amal KS/Hindustan Times photo)

‘Measly compared to other major economies’: CPI(M) slams new stimulus package

New Delhi | By Press Trust of India | Posted by Nilavro Ghosh
PUBLISHED ON NOV 13, 2020 08:06 PM IST
“The reality is that the sum total of direct extra governmental expenditures is, by liberal estimates, Rs 3,72,295 crore or a mere 1.9% of the GDP,” the CPI(M) said in a party statement.
Union Finance Minister Nirmala Sitharaman.(PTI)
Union Finance Minister Nirmala Sitharaman.(PTI)

Finance minister Sitharaman announces income tax relief for homebuyers

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Shivani Kumar
UPDATED ON NOV 12, 2020 03:34 PM IST
“Differential between circle rate and agreement value in real estate income tax is being increased from 10 per cent to 20 per cent from today till June 30, 2021, for primary sale of residential units up to Rs 2 crore. The income tax relief provides incentive to middle class to buy homes,” Sitharaman said at a press conference.
Finance minister Nirmala Sitharaman addressed the media on Thursday.(ANI Photo)
Finance minister Nirmala Sitharaman addressed the media on Thursday.(ANI Photo)

Finance minister Nirmala Sitharaman announces relief package ‘Atmanirbhar 3.0’, new employment scheme among is the highlight

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Amit Chaturvedi
UPDATED ON NOV 12, 2020 05:29 PM IST
Unveiling another round of relief package, Sitharaman on Thursday presented the state of the economy, saying active recovery has been happening in the country. She made the remarks on a day when a panel of Reserve Bank of India (RBI) said India is witnessing recession.
Ajay Bhushan Pandey has ruled out the possibility of any cut in GST rates in near future.(ANI Photo)
Ajay Bhushan Pandey has ruled out the possibility of any cut in GST rates in near future.(ANI Photo)

Govt working on another stimulus package: Finance secretary

New Delhi | By Asian News International | Posted by Kanishka Sarkar
UPDATED ON NOV 02, 2020 08:34 AM IST
The Reserve Bank of India had last month said that the economy is likely to contract by 9.5 per cent in the current fiscal.
Finance secretary Ajay Bhushan Pandey said that economic recovery in many areas has crossed the pre-Covid level, and is expected to see further growth. (Photo@FinMinIndia)
Finance secretary Ajay Bhushan Pandey said that economic recovery in many areas has crossed the pre-Covid level, and is expected to see further growth. (Photo@FinMinIndia)

Another stimulus package in the offing? Finance secretary responds

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON NOV 01, 2020 07:01 PM IST
The gross corporate tax collection this financial year so far is Rs 2,65,000 crore compared to Rs 3,60,000 crore in the same period last year, said finance secretary Ajay Bhushan Pandey, adding direct tax collection will also improve along with indirect taxes.
Union finance minister Nirmala Sitharaman.(ANI)
Union finance minister Nirmala Sitharaman.(ANI)

Centre readies to step up expenditure in stimulus 3

Livemint, New Delhi | By Asit Ranjan Mishra
UPDATED ON OCT 22, 2020 04:40 AM IST
Speaking at the virtual launch of 15th Finance Commission chairman N.K. Singh’s autobiography, Sitharaman on Monday said she has not closed the option for another stimulus package.
The top lenders under the Emergency Credit Line Guarantee Scheme are State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), Bank of India, Union Bank of India and HDFC Bank Ltd.(REUTERS)
The top lenders under the Emergency Credit Line Guarantee Scheme are State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), Bank of India, Union Bank of India and HDFC Bank Ltd.(REUTERS)

Banks sanctioned 1.5 lakh crore easy loans to small enterprises

Hindustan Times, New Delhi | By Rajeev Jayaswal
PUBLISHED ON AUG 20, 2020 01:41 PM IST
The scheme provides for an easy additional working capital loan at a concessional rate of interest to an existing borrower who is not a defaulter
Prime Minister has been taking review meetings on various aspects of the economy, according to sources.(PTI File Photo)
Prime Minister has been taking review meetings on various aspects of the economy, according to sources.(PTI File Photo)

PM Modi takes stock of financial sector, reviews progress of Rs 20 lakh crore stimulus package

New Delhi | By Press Trust of India | Posted by Kanishka Sarkar
UPDATED ON JUL 14, 2020 06:49 AM IST
Prime Minister Narendra Modi had said that the economy is showing “green shoots” as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
The Centre had, in May, announced Rs 90,000 crore liquidity injection into fund-starved discoms as part of a stimulus package to revive the country’s economy. (Photo by Abhinav Saha/Hindustan Times)
The Centre had, in May, announced Rs 90,000 crore liquidity injection into fund-starved discoms as part of a stimulus package to revive the country’s economy. (Photo by Abhinav Saha/Hindustan Times)

Business community demands waiver in fixed charges in electricity bills

Hindustan Times, New Delhi | By Risha Chitlangia
UPDATED ON JUL 11, 2020 03:28 AM IST
While economic activity has resumed, industrial unit owners in Delhi said production had returned to just around 40-50% of capacity so far.
According to Chief Economic Advisor Krishnamurthy V Subramanian, this uncertainty arising out of the health factor will stay until a vaccine for Covid-19 is developed, and spending will not pick up till then.
According to Chief Economic Advisor Krishnamurthy V Subramanian, this uncertainty arising out of the health factor will stay until a vaccine for Covid-19 is developed, and spending will not pick up till then.

Demand in economy will rise when uncertainty is not there: CEA

Kolkata | By Press Trust of India
PUBLISHED ON JUN 19, 2020 07:55 PM IST
Speaking at a webinar session organised by Bharat Chamber of Commerce, Subramanian said that discretionary spending in the economy has not risen due to uncertainty regarding health in the wake of the coronavirus outbreak.
The Congress has argued that MSMEs contributed close to one third of the nation’s gross domestic product (GDP), accounted for almost 50% of exports and employed over 110 million people.
The Congress has argued that MSMEs contributed close to one third of the nation’s gross domestic product (GDP), accounted for almost 50% of exports and employed over 110 million people.

Govt destroying economy by refusing aid to poor: Rahul

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUN 06, 2020 11:44 PM IST
Rahul Gandhi has also urged the government to make a monthly transfer Rs 7,500 to the poor and migrant workers for a period of six months.
After the government announced the nationwide lockdown on March 24 with effect from the following day to curb the spread of the viral disease, it announced a series of relief and economic stimulus packages.(Sonu Mehta/HT PHOTO)
After the government announced the nationwide lockdown on March 24 with effect from the following day to curb the spread of the viral disease, it announced a series of relief and economic stimulus packages.(Sonu Mehta/HT PHOTO)

Ministries asked not to start new schemes this fiscal year

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUN 06, 2020 12:04 AM IST
The aim is to use scarce resources prudently, according to a finance ministry order. A copy of the directive, issued on Thursday, was reviewed by Hindustan Times.
The desire for the market outperforming returns at all times has seemingly meant an unwillingness for investment in solid, useful, economy-enhancing plays, which pay 3-4% above the cost of capital but do not provide dramatic pay-offs(Getty Images/iStockphoto)
The desire for the market outperforming returns at all times has seemingly meant an unwillingness for investment in solid, useful, economy-enhancing plays, which pay 3-4% above the cost of capital but do not provide dramatic pay-offs(Getty Images/iStockphoto)

Corporate managers must rise to the challenge

By Govind Sankaranarayanan
UPDATED ON JUN 03, 2020 06:38 PM IST
Change lending practices; take risks; review investment criteria; align goals with national reconstruction
File photo of finance minister Nirmala Sitharaman.
File photo of finance minister Nirmala Sitharaman.

‘Intent to pick holes’: FM Nirmala Sitharaman on fiscal package criticism

Hindustan Times, New Delhi | By HT Correspondent | Edited by Ashutosh Tripathi
UPDATED ON MAY 23, 2020 04:59 PM IST
Elaborating the government’s approach, the FM said the government has heard everybody and then gone about stimulating economy, restarting companies and giving relaxations.
Emphasising that the Modi government is sensitive to the needs of people and businesses, Anurag Thakur said, the ministry is taking the inputs from various sectors.0. (HT Photo)
Emphasising that the Modi government is sensitive to the needs of people and businesses, Anurag Thakur said, the ministry is taking the inputs from various sectors.0. (HT Photo)

It’s only a pause, more steps to come to deal with Covid-19 crisis: Anurag Thakur

New Delhi | By Press Trust of India
PUBLISHED ON MAY 22, 2020 05:45 PM IST
Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Anurag Thakur told PTI in an interview.
Union Minister of State for Home Affairs G Kishan Reddy said Telangana Chief Minister K Chandrashekhar Rao’s criticism of the Centre’s economic package were unwarranted and irresponsible.(HT FILE PHOTO)
Union Minister of State for Home Affairs G Kishan Reddy said Telangana Chief Minister K Chandrashekhar Rao’s criticism of the Centre’s economic package were unwarranted and irresponsible.(HT FILE PHOTO)

No time for politics: BJP to KCR after he criticises economic package

Hindustan Times, Hyderabad | By Srinivasa Rao Apparasu
PUBLISHED ON MAY 19, 2020 05:53 PM IST
Union minister of state for home G Kishan Reddy said it is a challenging time for the Centre and the states to bury their differences and work together to tackle the Covid-19 pandemic.
Union home minister Amit Shah sitting with defence minister Rajnath Singh(ANI file photo)
Union home minister Amit Shah sitting with defence minister Rajnath Singh(ANI file photo)

GoM meets to take stock of relief work, stimulus package

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON MAY 19, 2020 02:15 AM IST
The officials added that the ministers also discussed relief to migrant workers returning to villages.
People wait to collect food in Patna on May 15.(AP Dube/HT photo)
People wait to collect food in Patna on May 15.(AP Dube/HT photo)

Stimulus package a lost opportunity: Bernstein

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON MAY 19, 2020 09:27 PM IST
India’s desire to announce a large economic package, something that shows the world that it cares about the economy and is willing to match global stimulus numbers, was perhaps the driver for the claim of a large package (USD 280bn, 10% of GDP), the firm said.
The need of the hour was money in hand, or simply, cash. It’s the reason the $2 trillion stimulus package announced by United States, at 10% of GDP which is almost the same proportion as India’s (the ₹20 lakh crore works out to a little less than 10% of India’s GDP) is a good benchmark(REUTERS)
The need of the hour was money in hand, or simply, cash. It’s the reason the $2 trillion stimulus package announced by United States, at 10% of GDP which is almost the same proportion as India’s (the ₹20 lakh crore works out to a little less than 10% of India’s GDP) is a good benchmark(REUTERS)

Where the relief and stimulus package falls short

Hindustan Times | By HT Correspondent
PUBLISHED ON MAY 17, 2020 05:46 PM IST
It will not help individuals and businesses deal with the crisis
Union Finance Minister Nirmala Sitharaman(Hindustan Times File)
Union Finance Minister Nirmala Sitharaman(Hindustan Times File)

Govt launches ‘Manodarpan’ to provide psychological support to students, teachers

New Delhi | By hindustantimes.com| Edited by Nandini
UPDATED ON JUL 21, 2020 09:49 AM IST
Union Finance Minister Nirmala Sitharaman on Sunday launched Manodarpan, an initiative to provide psychological support and counselling to students, teachers and families for mental health and emotional well-being.
In a tweet, he also thanked Finance Minister Nirmala Sitharaman for acknowledging that the additional expenditure can be met only by additional borrowing.(PTI FILE PHOTO.)
In a tweet, he also thanked Finance Minister Nirmala Sitharaman for acknowledging that the additional expenditure can be met only by additional borrowing.(PTI FILE PHOTO.)

More borrowing, spending will be measure of Centre’s fiscal package: Chidambaram

Hindustan Times, New Delhi | By hindustantimes.com |Edited by Sohini Sarkar
UPDATED ON MAY 17, 2020 03:55 PM IST
The former finance minister was referring to the Centre’s Rs 20 lakh crore economic stimulus package meant to revive the Indian economy after the 55-day nationwide lockdown imposed to curb the spread of the Covid-19 pandemic.
In a series of tweets, Amit Shah said the announcements will “a game changer”.(PTI)
In a series of tweets, Amit Shah said the announcements will “a game changer”.(PTI)

‘A game changer’: Amit Shah praises PM Modi, Nirmala Sitharamam for stimulus package

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON MAY 17, 2020 03:51 PM IST
The Union home minister also said the Centre’s decision to allocate an additional Rs 40,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) will boost the rural economy and infrastructure.
Finance Minister Nirmala Sitharaman addressing the media on the Centre’s economic package at the National Media Centre in New Delhi on Saturday.(MOHD ZAKIR/HT PHOTO.)
Finance Minister Nirmala Sitharaman addressing the media on the Centre’s economic package at the National Media Centre in New Delhi on Saturday.(MOHD ZAKIR/HT PHOTO.)

Structural reforms in 8 key sectors to boost economy, says FM Sitharaman

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Sohini Sarkar
UPDATED ON MAY 16, 2020 08:00 PM IST
The reforms will provide an impetus to those sectors which are new areas of growth, unleash new investment opportunities, lead to more production and in turn generate more jobs, the minister said.
Coal is among the eight sectors including minerals, defence production, airspace management, MROs, power distribution companies, space sectors, atomic energy which will be in focus, the finance minister said.(HT File Photo)
Coal is among the eight sectors including minerals, defence production, airspace management, MROs, power distribution companies, space sectors, atomic energy which will be in focus, the finance minister said.(HT File Photo)

Govt to spend Rs 50,000 crore to develop coal sector: Nirmala Sitharaman

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON MAY 16, 2020 05:49 PM IST
Nirmala Sitharaman said the government will spend Rs 50,000 crore to develop coal sector infrastructure and introduce competition, transparency, and private sector participation in the sector.
Labourers work in a utensil manufacturing factory at Micro, Small and Medium Enterprises (MSME) unit.(ANI)
Labourers work in a utensil manufacturing factory at Micro, Small and Medium Enterprises (MSME) unit.(ANI)

FM Nirmala Sitharaman on structural reforms in 8 sectors: Highlights

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Ashutosh Tripathi
UPDATED ON MAY 16, 2020 05:32 PM IST
FM Nirmala Sitharaman focused on the Micro Small and Medium Enterprises (MSMEs) on day 1, while day 2 she took care of migrant workers. The day 3 saw the FM focusing on agriculture and its allied activities.
File photo of Congress leader P Chidambaram. (HT photo)
File photo of Congress leader P Chidambaram. (HT photo)

P Chidambaram’s ‘research and dialogue’ tweet swipe at FM Sitharaman

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Ashutosh Tripathi
UPDATED ON MAY 16, 2020 02:59 PM IST
The congress leader, who has also been a finance minister, said his questions were part of research and dialogue, what he termed the “new R&D”.
The new law will ensure barrier-free interstate trade and will put in place a framework for e-trading of agricultural produce, the finance minister said.(PTI PHOTO.)
The new law will ensure barrier-free interstate trade and will put in place a framework for e-trading of agricultural produce, the finance minister said.(PTI PHOTO.)

New Central law to be in place for farmers to sell produce at attractive prices: FM

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Sohini Sarkar
UPDATED ON MAY 15, 2020 06:24 PM IST
The announcement was part of the third tranche of the Rs 20 lakh crore economic stimulus package that focussed on agriculture, dairy, animal husbandry and allied activities.
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