Amid rising anxiety over the impact of COVID-19 outbreak on Indian economy, Finance Minister Nirmala Sitharaman is scheduled to meet Prime Minister Narendra Modi on Saturday to examine possible ways to tackle the situation.
A source, who did not wish to be named, added that the government was closely monitoring the situation and may announce some sector-specific relief measures as early as next week.
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Ahead of her meeting with the Prime Minister, Ms. Sitharaman will be holding back-to-back meetings with various ministers from the sectors that are worst affected as a result of the pandemic.
The Finance Minister will be meeting the Minister of Fisheries, Animal Husbandry and Dairying Giriraj Singh, Minister of Civil Aviation Hardeep Singh Puri, Minister of Road Transport, Highways and Shipping as well as Micro, Small and Medium Enterprise Nitin Gadkari, and Minister of Tourism Prahlad Singh Patel.
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“The Ministry has already taken some quick Customs related steps to help those affected by disrupted supply chains due to COVID-19. But major steps, if any, cannot be taken in a knee-jerk manner and must be done after due deliberation and consultation. This process is ongoing and will continue. Decisions, if any, will be announced in due course,” a finance ministry official said.
The source added that during the meeting with the Finance Minister, all ministers would put forth relief recommendations for their respective sectors. “Ms. Sitharaman will meet the Prime Minister on Saturday, Principal Secretary to the Prime Minister P.K. Mishra is also likely to attend the meeting. The government may announce an economic package or set of decisions next week.”
