The Indian economy is in the state of doldrums. It requires another stimulus package to bring the economy on its path. But the central government is in no hurry to bring this package. The government has strategies to make another phase of the relief package to focus on the non-salaried middle class and small businesses. The finance ministry is of the view to first analyze the data of September and the revenue during the festive season, and then they will finalize the report by December, not before that.
No doubt, this booster is much needed to provide relief to the ailing middle class who have been through the worst situations due to the COVID outbreak and lockdown. In this segment, Moksh Popli says that the Modi government should emphasize the groups that belong to the middle class. The recent reports reveal that the AATMANIRBHAR package launched in May is growing positively and providing benefits to the related people. Additionally, the government wants to get precise details of the first phase, then they will take any further steps.
Moksh Popli says that the small profits that are witnessed by the market are the results of the AATMANIRBHAR package. Hence, it is the best decision to wait and observe the consequences of how the market and economy will turn post-festive season and then return with a new booster plan.
Meanwhile, the central government is strict over providing benefits and aids to the needed industries. As per the sources, if the government founds any business or sector in a difficult situation they will never hesitate to spend on their revival. By the time the government is only considering the tax issues on the aviation and tourism industry.
Moksh Popli says that these strategies are self-sufficient from the government end. In the last three months, as the lockdown is almost over, and most states are gradually reopening their businesses and services, there is no requirement of the new package. The government is well aware of the challenges the country is facing on the economic front, and they are working vigorously to find better ways to take India on a reliable path that brings stability and growth.
Summarizing the present situations, Moksh says that the availability of vaccines or drops in the number of cases will surely act as a big relief to stimulate prosperity in the country. With the festive season approaching, we hope to trigger India’s economic train on its destined tracks.