The Union Cabinet is meeting on Wednesday where a discussion is likely to take place on stimulus package for India Inc. The Cabinet Committee on Economic Affairs (CCEA) is expected to take a call on the package soon.

A recent survey on the impact of Covid-19 lockdown had said that it could wreak permanent damage on businesses and force many to lay off people, unless the government announced a substantive economic package immediately. The survey was conducted jointly by the Federation of Indian Chambers of Commerce and Industry (Ficci) and consultancy firm Dhruva Advisors.

Ficci has been demanding a stimulus package of Rs 9-10 trillion to bring the economy back on track. Some industry associations have demanded a Rs 16 trillion industry revival package. Niti Aayog, the government's think-tank has said that a package amounting to five per cent of GDP is in order.