01-01-1970 12:00 AM | Source: Angel Broking Ltd
2nd Covid Stimulus package expected after 2nd wave of pandemic By Yash Gupta, Angel Broking
Below are Views On 2nd Covid Stimulus package expected after 2nd wave of pandemic By Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
As per the different market reports, the Finance Minister to announce 2nd covid stimulus package for the 2nd wave of Covid in India. We have seen a very sharp increase in covid cases in India in 2nd wave, in mid of February total covid cases reported in a day was around 9500 and now in mid of April we reached to almost 2 Lakhs cases per day. Several states have taken decisions to do into full lock down or night curfew. Worst hit state in 2nd wave was Maharashtra which accounts for almost 50% of daily new cases.
In early covid stimulus package Finance ministry announced a stimulus package of 20 Lakhs crores which is 10% of GDP of India.
We expect this year's financial stimulus package will not be as big as what was last time as India fiscal deficit is already at sky High. Finance minister Nirmala Sitharaman already increased the fiscal deficit target from 7.96 lakhs crores to 18.49 lakhs crores in her budget speech.
So we don’t expect a very big 2nd wave covid stimulus package from the Finance Minister this time along with this we suggest retail investors to be cautious on the market.
Above views are of the author and not of the website kindly read disclaimer
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