Centre Is Assessing GDP Contraction: Nirmala Sitharaman

Nirmala Sitharaman said that the Centre has not closed the option for another stimulus package and has started doing "some kind of" assessment on gross domestic product (GDP) contraction.

Centre Is Assessing GDP Contraction: Nirmala Sitharaman

Ms Sitharaman was speaking at the launch of a book by NK Singh, Chairperson of 15th Finance Commission.

Finance Minister Nirmala Sitharaman on Monday said that the Centre has not closed the option for another stimulus package and has started doing "some kind of" assessment on gross domestic product (GDP) contraction.

Speaking at the launch of a book by NK Singh, Chairperson of the 15th Finance Commission, the Finance Minister said, "We have not closed the option for another stimulus package. We have now started doing some kind of assessment on GDP contraction, we have got some input. We will have to come up with the assessment, whether in parliament or in public."

Earlier today, Ms Sitharaman held a video conference with Secretaries of Ministry of Petroleum and Natural Gas, and Ministry of Coal, along with the chairman and managing directors (CMDs) of 14 central public sector enterprises (CPSEs) belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year.

Newsbeep

The finance ministry said in a statement, "This was 4th in the ongoing series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth in the background of COVID-19 pandemic."