Govt engaged in pulling India out of COVID-19 pandemic: Sitharaman

at 8:58 pm

New Delhi (NVI): Finance Minister Nirmala Sitharaman today said that government is engaged in steering India’s economies and people safely out of COVID-19 pandemic.

Addressing 103rd meeting of the Development Committee Plenary via video conferencing she said, “We are all engaged in steering our economies and people safely out of COVID-19 pandemic. The Government of India has taken several measures to contain the spread of pandemic and also to mitigate its social and economic impact including a series of economic stimulus packages in last one year.”

The Minister shared that the government has announced Aatma Nirbhar Packages of Rs 27.1 trillion, amounting to more than 13% of the GDP.

“These packages were meant not only to provide social protection to poor and vulnerable but also to push forward the economic reforms,” she added.

She noted that the WBG has stepped up its financing in the wake of COVID-19 pandemic with total financing approvals exceeding $100 billion for the first time.

The Finance Minister urged World Bank to explore the possibility to sustain crisis response keeping in mind debt sustainability of vulnerable countries and financial sustainability of the WBG.