NEW DELHI : Industry lobby PHDCCI on Thursday suggested that the government should issue special covid-19 bonds to meet growing demand for resources to stimulate the pandemic-ravaged economy.
While thanking finance minister Nirmala Sithraman for her recent statement that the government has no plan to go for direct monetization of its fiscal deficit, Sanjay Aggarwal, president at PHDCCI, said the government can consider raising funds from the issuance of special covid bonds as part of budgeted borrowings to finance its fiscal measures and stimulate the economy through public spending. “Issuance of special covid bonds could become an appropriate substitute to market borrowings by the government.