Last Updated on June 17, 2021 by Vishvesh Dave
According to the Chamber of Industry CII, Indian EconomyNeeds an economic package of Rs 3 lakh crore. According to the chamber, direct cash assistance should also be available in Jandhan accounts under this package to strengthen economic growth amid the Koro epidemic. In addition, the CIA has advocated the appointment of a ‘Vaccine Czar’ for faster vaccination coverage.
CII President TV Narendra also said that the chamber expects the economy to grow by 9.5 per cent in FY2021-22. He said strong demand from other countries and large-scale coverage of vaccinations would help resume economic activities and lead to strong growth in the second half of the current financial year.
He also recommended the appointment of ‘Vaccine Czar’ to accelerate the spread of vaccination.
The new president said the need of the hour was to take appropriate financial measures to ease the pressure of those affected by the second wave of Kovid-19.
He told reporters that the Indian economy is a consumption-driven economy and the epidemic has affected consumer demand. For this reason, the Chamber has vowed to take a number of steps from cash transfer.
Narendra said, “A financial stimulus package of Rs 3 lakh crore is needed. There is scope for an additional Rs 3 lakh crore incentive package. ”
He said the RBI should increase its balance sheet to include this incentive package. This will keep the lending price in range.