Covid Bonds: No plans to raise funds via issuance of COVID bonds: Pankaj Chaudhary

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New Delhi: Union Minister Pankaj Chaudhary on Monday knowledgeable Parliament that the federal government has no plans to boost funds by issuing COVID bonds. “The federal government doesn’t plan to boost fiscal assets by way of borrowings by issuing COVID bonds,” the Minister of State for Finance stated in a written reply to the Lok Sabha.

Replying to a different query, Chaudhary stated, the deft and prudent exterior debt administration coverage of the federal government has helped in containing rise in exterior debt and sustaining a snug debt place.

The coverage focuses on monitoring lengthy and short-term debt, elevating sovereign loans on concessional phrases with longer maturities, regulating exterior business borrowings and rationalizing rates of interest on Non-Resident Indian deposits, he stated.

In a reply to a different query, Chaudhary stated, India’s per capita Gross Home Product in buying energy parity (PPP) phrases in 2021 is estimated at USD 7,332.9 as in comparison with USD 5,811.6 for Bangladesh, citing Worldwide Financial Fund’s World Financial Outlook (WEO) report, April 2021.

Quoting the report he stated, India’s per capita GDP in PPP phrases in 2016 was USD 5,839.9, 41.8 per cent larger than that of Bangladesh (USD 4,118.9).

As per the report, he stated, the Indian economic system is estimated to develop at 12.5 per cent in 2021, highest amongst main economies.

“The federal government has introduced reduction measures for a number of sectors below the Aatmanirbhar Bharat Packages introduced on Could 13, 2020 to Could 17, 2020, October 12, 2020 and November 12, 2020 involving a complete quantity of Rs 29,87,641 crore (together with quantity offered for Pradhan Mantri Garib Kalyan Bundle, Pradhan Mantri Garib Kalyan Anna Yojana from July to November, and measures introduced by RBI),” he stated in a separate reply.

Apart from, he stated, a Rs 6.28 lakh crore COVID stimulus bundle was additionally introduced on June 28, 2021.

Replying to a different query, he stated, the costs of petrol and diesel are market-determined and any choice on this perspective is made by the PSU Oil Advertising Corporations (OMCs), whereas the federal government solely modulates.

“The costs of petroleum merchandise within the nation are linked to the worth of respective merchandise within the worldwide market. Costs of petrol and diesel have been made market-determined with impact from 26.06.2010 and 19.10.2014, respectively. Since then PSU OMCs take applicable choice on pricing of petrol and diesel,” he stated.

He additional stated the all-time excessive subsidy launched has improved the meals security to the lots, he stated.

Throughout 2020-21, the Division of Meals & Public Distribution had launched an all- time excessive subsidy of Rs 4,62,789 crore to FCI and Rs 78,337.77 crore to states by way of decentralised procurement, he stated.

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