INSUBCONTINENT EXCLUSIVE:
Economic stimulus needed to mitigate impact of pandemicWith sharp recovery in the key economic and business indicators in the third quarter
support the emerging growth scenario by providing substantial stimulus and reform measures to mitigate the daunting impact of second wave of
struck like a storm throughout the country
Government had last year acted swiftly to mitigate the daunting impact of Covid pandemic with a great support to people, trade and industry,
the same steps are needed at this juncture once again, he added.PHDCCI Economic - Business Momentum (EBM) Index of the 25 lead economic and
business indicators projects more than 1% growth rate of GDP in Q4 FY 2020-21, Mr Aggarwal informed.Calibrated measures are required at this
juncture to maintain the growth momentum and to achieve an anticipated growth trajectory of a 11% GDP growth rate in FY 2021-22, said Mr
Sanjay Aggarwal.GDP growth rate at 0.4% for Q3 FY 2020-21 has been very much in line with our projections in the PHDCCI Economic and
Business Momentum (EBM) Index released on February 22, 2021, in which we had estimated that the GDP growth will be at around 0.1% to 1% in
Q3 FY 2020-21, the chamber's head said.Going ahead, policy measures are needed to support demand creation and to have a multiplier effect
on enhanced production possibilities, expansion of employment in factories, expansion of capital investments and overall virtuous circle of
growth and development of Indian economy, said Mr
