New Delhi, (the states. news) Government on Monday announced proposals to stimulate demand by front-loading or advancing some of the expenditure with some offsetting changes and the other directly linked to an increase in the GDP.
Addressing media, Union Finance Minister Nirmala Sitharaman said, ‘The pandemic has adversely affected economy. Supply constraints have eased but consumer demand is still affected. The proposals are designed to stimulate demand in a fiscally prudent way – some of them involve advancing of expenditure, with offsetting changes later and others are directly linked to increasing GDP.’
She said, ‘We estimate that the measures announced today, for boosting consumer spending and capital expenditure, will boost demand by Rs 73,000 crores, to be spent by March 31, 2021.’
