After RBI payout, FM says will front-load public spending to boost growth

india

Updated: Aug 29, 2019 20:10 IST

Noting that consumption needs a boost, Finance Minister Nirmala Sitharaman on Thursday said that more measures to accelerate economic growth are in the pipeline and would be announced in the coming weeks.

She reiterated that spending on infrastructure would be the government’s priority.

“We can front-load some public spending by the government,” the Minister said during a media briefing in Guwahati, where she is as part of her multi-city tour to interact with tax officials, trade and business.

Sitharaman discussed development schemes for the northeast region besides direct tax and GST.

Holding that the Narendra Modi government has been responsive and will come back with answers asked by the various groups, she cited the announcements made last Friday to boost economy by extending partial credit to NBFCs and measures to revive automobile sector.

Subsequently, the Centre has eased FDI rules in digital media and single brand retail, coal-mining and contract manufacturing. The government is expected to come with another set of measures to prop up the real estate sector.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)