Rs 73,000-cr measures to boost consumer spending, sentiment: PM Modi

After Finance Minister Nirmala Sitharaman announced measures of Rs 73,000 crore to stimulate consumer spending, Prime Minister Narendra Modi on Monday said that today's announcements are timely moves which will boost consumer spending and sentiment as well as push capital expenditure.

After Finance Minister Nirmala Sitharaman announced measures of Rs 73,000 crore to stimulate consumer spending, Prime Minister Narendra Modi on Monday said that today's announcements are timely moves which will boost consumer spending and sentiment as well as push capital expenditure. "Today's announcements by FM Nirmala Sitharaman Ji are timely moves which will boost consumer spending and sentiment as well as push capital expenditure. These steps will also boost demand in our economy," Modi tweeted.

Earlier in the day, Sitharaman announced measures of Rs 73,000 crore to stimulate consumer spending in the economy in an effort to fight the slowdown due to COVID-19 pandemic following lockdown She said that a special interest-free 50-year loan will be issued to states by the Centre for Rs 12,000 crore capital expenditure.

The Finance Minister said that additional budget of Rs 25,000 crore, in addition to Rs 4.13 lakh crore given in Union Budget 2020, is being provided for Capital Expenditure on roads, defence, water supply, urban development and domestically produced capital equipment. (ANI)