Urgent Direct Income Support Measures Needed To Boost Demand: Ficci

Ficci: There is an urgent need for boosting demand through direct income support measures.

Industry body FICCI has urged for introduction of direct income support measures to boost demand in the country, which has gone down since households have curbed their spending owing to the ongoing Corona virus infection. "We feel that there is an urgent need for boosting demand through direct income support measures. Focus on urban poor, security cover for micro, small and medium enterprises and other high contact-based services will be critical,” FICCI President Uday Shankar said. He said that unlike last time, when households fell back on their savings and helped in quick economic recovery with pent-up demand, this time, savings are depleted as health expenditure has been quite high. Though industrial production has not been affected by supply side issues like it was during the first wave of the pandemic, domestic demand has fallen during the ongoing second wave.