Headlines Today has learnt that despite the industry's demands, the government has not been considering any stimulus package. It feels conditions of the exchequer not healthy enough to support any financial stimulus.
However, according to sources, it has been aiming to speedily clear infrastructure projects given that more than Rs.1 lakh crore worth projects have been pending.
The government has decided to undertake a special drive to award contracts and commission new infrastructure projects. A special national level body to facilitate and monitor important infrastructure projects of national importance was also in the offing.
The government plans to ease funding for infrastructure projects and make long term financing available to these projects. Among other proactive steps the government has been planning open acreage licensing policy for oil and gas exploration.
After the recent Congress Working Committee (CWC) rap on the plummeting state of economy the government has been jolted into action. Prime Minister Manmohan Singh would on Wednesday hold a meeting of senior ministers to find ways to boost the economy.
Key measures, like stalled economic reforms, were likely to be discussed in the meet, which would be attended by senior ministers, including Finance Minister Pranab Mukherjee.
The government has been looking to provide a massive boost to key infrastructure projects to bring the ailing economy back on track.
Among other steps the government has been looking to clear three international airports at the meeting. The meet might also see nod to the ambitious Mumbai-Ahmedabad bullet train project.
Government has also been looking to clear two deep water ports and fixing new economic target, apart from reassessing last year's target.
The government has been jolted into action after the Congress top brass, in the recently concluded CWC meet, expressed concerns over the failing economy affecting the party's chances in coming state polls.
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