DMPQ- Government has taken various step towards boosting consumption. Enumerate the number of steps taken by government to boost consumption.

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Government has taken various measures to boost the incomes especially rural incomes to usher spending and consumption levels in the economy.

  1. Increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops and Kharif crops for 2019-20 season.
  2. To provide an assured income support to the small and marginal farmers, the cash transfer scheme Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) providing an income support of Rs.6,000 per year has been extended to all eligible farmer families irrespective of the size of land holdings.
  • With a move towards attaining universal social security, Government has approved a new scheme that offers pension coverage to the trading community. Under this scheme all shopkeepers, retail traders and self-employed persons are assured a minimum monthly pension of Rs.3,000 per month after attaining the age of 60 years.
  1. e.f. 1st August 2019, GST rate on all electric vehicles has been reduced from 12 per cent to 5 per cent and of charger or charging stations for EVs from 18 per cent to 5 per cent . Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities will be exempted from GST.

 

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