FM: No plan to print currency notes to tide over economic crisis

To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, "No Sir." 

Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19, and protect jobs. 

India's real Gross Domestic Product (GDP) is estimated to have contracted by 7.3 per cent during 2020-21, Sitharaman said in a written reply to Lok Sabha. 

This contraction reflects the unparalleled effect of the pandemic and the containment measures that were taken to control the pandemic, she said. 

"The fundamentals of the economy remain strong as gradual scaling back of lockdowns, along with the astute support of Atmanirbhar Bharat Mission has placed the economy firmly on the path of recovery from the second half of FY 2020-21," she said. The government had announced a special economic and comprehensive package of Rs 29.87 lakh crore under AtmaNirbhar Bharat (ANB) to combat the impact of the pandemic, to revive economic growth and to bolster employment during 2020-21, she said.