Atmanirbhar Bharat 3.0: Prudent measures to boost job creation, stem capital destruction

The government is hoping that the green shoots visible in high-frequency data will further translate into a GDP uplift. And the latest measures - pragmatic and specific - will aid that

The Narendra Modi government continued its measured and targeted approach to providing fiscal support to various parts of the economy, with Finance Minister Nirmala Sitharaman announcing on Thursday the third part of the Atmanirbhar Bharat package. The focus of these most recent announcements was on job creation and supporting the most vulnerable and distressed sectors of the economy. 

This narrow but sector-focused stimulus allows the government to focus on two key priorities – job creation and preventing the destruction of existing capital stock or allowing regeneration where destruction has already taken place due to the pandemic. The measures undertaken today