Expressing optimism, the NITI Aayog Vice Chairman Rajiv Kumar has said that India’s gross domestic product (GDP) will see strong recovery from the second quarter (Q2) of the current fiscal year (FY21) as economic activities resume. He also hoped that the government will unveil fiscal measures to jumpstart growth, which has plummeted due to the COVID-19 crisis.
Rajiv Kumar also noted that April would be a washout in terms of economic activity, though all has not been lost for agriculture. While talking about delay in announcing another fiscal package, the NITI Aayog vice chairman said that the country's diversity is significant to come up with a pan-India solution and it takes time to develop guidelines.
Meanwhile, the Centre had last month announced a Rs 1.70 lakh crore package to help people survive the COVID-19 crisis. The measures included free food grains and cooking gas to poor for the next three months, one-time doles to women and poor senior citizens, higher wages to workers and steps to boost liquidity of employees.