The Centre has taken steps to re-prioritize expenditure, including freezing some allowances of its staff NEW DELHI : With the Centre lacking resources to provide a large fiscal stimulus to the virus-battered economy, experts recommended pledging of shares of state-run companies with either the Reserve Bank of India (RBI) or a consortium of banks to raise funds, a suggestion that a finance ministry official said the government will explore.
In a Mint column on Tuesday, economist Ajit Ranade proposed that the government pledge its shares of state-run units, including the Life Insurance Corp.
of India and Specified Undertaking of Unit Trust of India, with RBI to garner resources amounting to around 10% of gross domestic product (GDP) to