Government Can Bring Another Stimulus Package
Government can bring another stimulus package to speed up the economy, ongoing work: Finance Secretary.
The central government is working on another stimulus package, but no clear information has been revealed about how long it will be announced.
Finance Secretary Ajay Bhushan Pandey on Sunday hinted that the government intends to introduce another stimulus package.
Pandey said that we go to the grassroots level to monitor the area of the economy or population, and help people according to what they need.
Looking at the needs of the economy, we are taking suggestions from industry bodies, trade associations, various ministries. He said that he could not give a time frame for the stimulus package, but the government is working on it.
Talking about the current state of the economy, Pandey said that the economy is recovering and is moving towards sustained growth.
Petrol, diesel demand returned to pre-Covid level, diesel demand was 6.6 percent higher
After petrol, the demand for diesel has also come to a level before the Corona virus epidemic in October. According to industry figures, the demand for diesel in October was 6.6 percent higher than the year before.
This is the first yearly increase in diesel sales since the nationwide lockdown to prevent the epidemic.
Diesel is the most consumed fuel in India. Due to the epidemic, people have started giving preference to personal vehicles. Due to this demand of petrol has been better than diesel.
However, the October data suggest a better return than expected. Diesel demand returned to normal levels as the festive season gained momentum.
Diesel sales rose to 61.7 lakh tonnes in October from 57.9 lakh tonnes a year earlier. The last two weeks of the month saw a surge in diesel demand.
During the first two weeks, diesel sales were 26.5 lakh tonnes. In October, it sold 27.5 percent more than the 48.4 million tons in September 2020. Petrol sales reached the pre-Covid level in September.
Petrol sales in October were 23.9 lakh tonnes, up four percent from 22.9 lakh tonnes in October 2019. Petrol sales were 2.2 million tonnes in September 2020.
It is noteworthy that the demand in India was badly affected due to the lockdown implemented from 25 March. In April, there was a 49 percent decrease in demand for fuels.
