Moody’s not too optimistic about 2nd round of stimulus

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The government’s second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody’s Investors Service said on Thursday.

After a long clamour for fiscal stimulus, the government had on October 12 come up with measures with direct fiscal support to people and states and to generate demand.

These included a leave travel concession (LTC) cash voucher scheme and special festival advance for government employees and Rs 12,000 crore interest-free loan to states and Rs 25,000 crore additional capex.

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