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Booster shots for sagging economy
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New Delhi, Aug. 24 -- A day after Chief Economic Adviser (CEA) Krishnamurthy Subramanian ruled out a major stimulus package for the economy triggering a massive sell-off in the equity market, the Government did just the opposite on Friday.
Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to perk up the economy and address the concerns of foreign portfolio investors , who pulled out nearly $3 billion from the India stock markets ever since the Budget imposed surcharge on their investment. Relentless selling by the foreign portfolio investors (FPIs) and concerns about the health of economy saw sensex losing more than 4,000 points in less than two months.
The stimulus package included rollback of super-rich surcha...
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