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Govt should provide Rs 3-trn stimulus to perk up domestic demand: CII

Industry body also seeks expansion of RBI balance sheet to meet demand exigencies, suggests ways to accelerate Covid vaccination

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(Photo: Bloomberg)

Aditi Divekar Mumbai
India’s gross domestic product (GDP) needs to improve to 9 per cent by 2024-25 with public expenditure, reforms and vaccination as key levers, Confederation of Indian Industry (CII) president TV Narendran said on Thursday, while urging the government to provide a fiscal stimulus worth Rs 3 trillion, along with direct cash transfers to perk up domestic demand.
 
Addressing the media, virtually, for the first time after taking over as the CII president, Narendran said, “The cumulative impact of the two waves on income and consumer sentiment, coupled with the increase in household medical expenses during the second wave, is