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Fresh stimulus to push economic activity: vice-chairman Rajiv Kumar

The fresh stimulus package announced by Finance Minister Nirmala Sitharaman to boost domestic demand will give a much-needed push to economic activity, Niti Aayog Vice-Chairman Rajiv Kumar said on Monday. Sitharaman announced a Rs 73,000 crore package, including advance payment of a part of wages to central government employees and cash in lieu of LTC, to stimulate consumer demand and investment in the economy damaged by the coronavirus pandemic. "As she had assured us, honorable FM Nirmala Sitharaman has announced a fresh stimulus package to boost domestic demand and thereby giving the needed push to economic activity. "The timing of the stimulus is perfect coming just ahead of the festival season when the green shoots of recovery are becoming stronger," Kumar said in a tweet. The multiplier effects of the package are expected to be multiples of the original amount, and higher economic activity would be sustained in the coming

News source ~ Economic Times