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No amount of govt steps adequate to deal with Covid impact: FM

Union Finance Minister Nirmala Sitharaman on Thursday said that any amount of government intervention will not be adequate to deal with the impact of novel coronavirus on the economy.

No amount of govt steps adequate to deal with Covid impact: FM
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No amount of govt steps adequate to deal with Covid impact: FM

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New Delhi, Union Finance Minister Nirmala Sitharaman on Thursday said that any amount of government intervention will not be adequate to deal with the impact of novel coronavirus on the economy.

Addressing an event of the Indian Chamber of Commerce (ICC) virtually, Sitharaman said that although the economy was witnessing a revival in early 2020, the pandemic impacted the recovery.

Since March, she has announced a number measures to support the economy and businesses amid the pandemic and more measures are expected going ahead. So far the stimulus measures by the government and the Reserve Bank of India (RBI) add up to about Rs 30 lakh crore.

She, however, said that divestment process of the public sector units (PSU) would see good progress in the rest of the financial year.

The Finance Minister also said that public expenditure on infrastructure will be kept up.

Citing interest of foreign investors, she said that sovereign wealth funds and pension funds are keen to come to India.

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