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Second stimulus needed to boost economy: EY India

Jun 29, 2020 11:56 IST

A second round of fiscal stimulus in the latter part of the financial year may help arrest the strong contraction in the Indian economy, consultancy firm EY India has stated, the Hindustan Times has reported. In its latest edition of Economy Watch report, the firm has said that a borrowing-based full implementation of Rs 111 lakh crore is needed to restore growth and generate tangible employment. The report said that downward revision of India’s growth projections by global institutions shows that the govt's stimulus package only had a “limited impact” in reversing the contraction.

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