Will see around 4% growth if PM Modi's package is pumped into economy: ASSOCHAM

Will see around 4% growth if PM Modi's package is pumped into economy: ASSOCHAM

While speaking to ANI amid coronavirus pandemic on May 12, the Secretary General of 'The Associated Chambers of Commerce and Industry of India' (ASSOCHAM), Deepak Sood spoke on economic package announced by PM Narendra Modi.

He said, "With this announcement, we can very clearly say the estimations of 0-1% growth are now defeated and we are very clear that if all this money is pumped into the economy we should see 2-3% or 4% growth as we move along and as early as March of next year." "ASSOCHAM had reasoned with the Indian industry, the government and had made this request about a month and a half back for a package of US$ 200-300 Billion.

We are delighted that we were able to foresee this and we are glad that it's in alignment with the Indian thinking," ASSOCHAM Secretary-General added.

Prime Minister Narendra Modi announced Rs 20 lakh crore special economic package on Tuesday for India to be 'self reliant' and deal with COVID-19.