Industry body CII on Sunday said the multi-sectoral and multi-dimensional policy stimulus announced last week will have significant impact, imparting stability and underpinning a new growth impetus for India.
CII said the measures announced come at a time when the world economy is buffeted by global headwinds and trade slowdown.
“Coming in the wake of several retaliatory and counter-retaliatory trade measures between the two largest global trading nations, the economic package announced by Nirmala Sitharaman, Minister of Finance and Corporate Affairs, on Friday imparts stability and underpins a new growth impetus for India,” it added.
“It is indeed commendable that all these multi-sectoral steps were carried out without pressure on the fiscal deficit. With her six-dimensional announcement, FM has indeed hit a sixer out of the grounds,” he added. The industry body said it expects that the economy will climb up in the coming months.