Govt unlikely to grant any package for industry to pay workers' salaries

"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.

Lack of fiscal space will pose a big hurdle for the Centre to announce grants for industries to pay wages of employees unable to work due to the coronavirus (Covid-19) pandemic, according to multiple people in the know.

In the past few days, industry representatives have had meetings with top government officials to deliberate upon an economic package, said sources.

“The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills,” one of the two persons said.

The government has set up an empowered group of officials,