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Economic Package: FM Nirmala Sitharaman to address press conference at 4 PM today

Finance Minister Nirmala Sitharaman will address a press conference at 4 PM today. Sitharaman is likely to provide the breakup of Rs 20 lakh crore economic package which was announced by Prime Minister Narendra Modi on Tuesday.

India TV Business Desk India TV Business Desk
New Delhi Updated on: May 13, 2020 11:25 IST
FM Nirmala Sitharaman likely to announce details of economic stimulus package today
Image Source : FILE

FM Nirmala Sitharaman likely to announce details of economic stimulus package today 

Finance Minister Nirmala Sitharaman will address a press conference at 4 PM today in New Delhi, her office informed today morning in a tweet. Sitharaman expected to provide the details of Rs 20 lakh crore economic package which was announced by Prime Minister Narendra Modi on Tuesday. In his address to the nation, PM Modi also announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.

"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan'. The announcements made by the govt over COVID, decisions of RBI & today's package totals to Rs 20 Lakh Crores. This is 10% of India's GDP," PM Modi had said announcing the stimulus package Tuesday evening. 

The special economic package will have an emphasis on land, labour, liquidity and laws, and will be for "our labourers, farmers, honest taxpayers, MSMEs and cottage industry", Modi said.

"The package will be doled out in 2020 and aimed at minimizing the impact on agriculture, attract investments and ensure self-reliance," he said.

Equity benchmark Sensex rallied over 1,400 points in the opening session on Wednesday as Prime Minister Narendra Modi's Rs 20 lakh crore stimulus package to revive the coronavirus-hit economy boosted domestic investor sentiment.

Also Read: PSU banks sanction ₹5.95 trillion loans in just over 2 months: Nirmala Sitharaman

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