Fiscally restrained govt tries new formula to boost festive consumer spend

Finance Minister Nirmala Sitharaman on Monday announced a two-pronged stimulus package aimed at bolstering capital expenditure and stimulating consumer demand during the upcoming festive season, estimating a Rs 73,000-crore boost by the end of this financial year. The measures, which signalled the Centre’s fiscally conservative approach towards boosting demand, included giving money into the hands of central government employees, but with strict conditions on spending towards goods and services; a limited hike in its capital expenditure; and paltry interest-free loans to states .....

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