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India Planning Around $20 Billion of New Stimulus to Pull Economy Out of Contraction: Report

File photo of Finance Minister Nirmala Sitharaman.

File photo of Finance Minister Nirmala Sitharaman.

The cabinet approved a proposal on Wednesday to provide production-linked incentives of about $27 billion over five years to manufacturers in 10 sectors.

India is planning to announce a fresh round of stimulus worth about $20 billion this week to pull the economy out of its worst contraction, government officials said.

Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and other top officials will finalise the plan on Thursday, said the sources, who asked not to be named.

The cabinet approved a proposal on Wednesday to provide production-linked incentives of about $27 billion over five years to manufacturers in 10 sectors.


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