"Govt. Is Working On Another Stimulus" Says: Finance Secretary Ajay Pandey

On Sunday Finance secretary Ajay hinted that the Govt. is working on a stimulus to enhance the economy

On Sunday, Finance secretary Ajay Bhushan Pandey has hinted that the govt. is working on another stimulus work package but he didn't mention the exact timeframe of execution of the project.

The secretary has ensured the citizen by saying on an exclusive interview by ANI, "We keep observation matters on the bottom to assess that sector of the economy or the phase of the population desires what reasonably facilitate at which era and respond consequently. we tend to keep taking suggestions from business bodies, trade associations, numerous ministries and once rummaging their suggestions and necessities of the economy, we tend to commence with timely measures."

Mr Ajay Pandey also talked bout that he can't mention the exact time-frame of the execution but yes the government was on it and deliberations on further interventions were on.

As he talked about the economy, he told ANI that the economy of the country is growing quickly and can certainly, see a much better employment sector and property growth.

He justified his statement of sustainable growth by telling that, "The October GST collection has been Rs 105,155 crore which is 10 per cent higher year-on-year for the corresponding month last year. This September, the economy had also shown 4 per cent growth at Rs 95,480crorese in GST collections y-o-y. Further, the country has seen a growth in electricity consumption, exports, and imports."

According to the reports, The Sept. and Oct. reports during the COVID-19 have reached to a positive side. Even, the E-Way bill in Sep has seen year on year growth of ten per cent and in Gregorian calendar month it's seen a growth of 21 per cent.

"We square measure analyzing each sector and this is often a never-ending method. Since the COVID-19 irruption, we've been doing unending observation each sector, no matter was needed for serving to migrants, vulnerable sections of the agricultural or urban populations, we did. once the state was in imprisonment, we tend to give money to ladies Gregorian calendar month Dhan account holders in their bank accounts through DBT. we tend to provide early instalments to farmers underneath PM Kisan Yojana," he said.

He was aforesaid that a complete refund of  Rs.2 lakh large integer has been given within the last seven months. throughout this era, revenue collections were wedged however the govt. failed to stop or weigh down the refunds.

Ruling out the chance of any cut in GST rates in close to future throughout the COVID pandemic, he aforesaid that there's the incorrect impression that rate cut boosts sales and growth.