Perspective on FM`s Relief measures announcement by Ms. Madhavi Arora, Emkay Global Financial Services
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Below are Perspective on FM's Relief measures announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services.
“While the measures are welcome and target Covid sensitive sectors , most of the fiscal support is still below the line and in the form of loan guarantees, and not direct stimulus. Overall, Amid various push and pull, there is a likelihood of fiscal slippage to the tune of around 0.5% from the initially budgeted 6.8%. Despite the slippage, the effective fiscal impulse will still be negative in FY22. Given the limited efficacy of monetary easing currently, continued countercyclical fiscal policy support—and avoiding a premature consolidation—remains crucial.”
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