Govt Introduces New Measures To Boost Economy

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What has happened?

Finance Minister Nirmala Sitharaman on Monday announced two sets of measures to generate consumption demand and boost capital spending in the economy.
The measures announced by the government, along with participation of states and the private sectors, are, according to the government, projected to create “Additional demand” of Rs 1 lakh crore in the economy.

While GST collections have been severely impacted in the first half of the fiscal due to Covid-19 pandemic,
A consumption boost from LTC component of the salary of central and state government employees will lift GST collections in the second half of the year as the scheme calls for expenditure to be done till March 31, 2021.