A number of sectors like the automobile and realty have urged the government to come up with a package
The government of India is still under discussion on the likely stimulus package, Finance Minister Nirmala Sitharaman said on Friday during her day-long visit to the city. However, she was silent on what the package would contain and when will it be announced. A number of Indian economy sectors, like the automobile and realty industries are facing slowdown of demand and have urged the government to come up with a package to stimulate consumption demand and thereby revive economy slowdown.
"We had a meeting with the Prime Minister on Thursday (on economy) and we shall meet again on Saturday. As of now it is not the right time to talk about the road map or package. Discussions are going on in Prime Minister's Office and so with the government too. Details will be announced at the right time," she said while addressing the media.
The FM refused to share whether the government had any road map for economy boost and also denied to give any timeline for expected stimulus package, which the industry players are anticipating.
THE TRIGGER
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| A number of sectors like the automobile and realty have urged the government to come up with a package |
Sitharaman also met several business groups, including auto, banking and telecom sectors to understand key issues faced by them. She said the government is still analysing the issues. When asked whether the government would consider the demand made by gems and jewellery sectors to provide relief on gold imports, Sitharaman hinted it was unlikely.
"We do not produce that product (gold) in the country. We buy products which are not available in the country and hence spend so much of foreign exchange. So do we need to subsidise it," Sitharaman questioned.
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