File photo: Finance Minister Nirmala Sitharaman.(PTI)
File photo: Finance Minister Nirmala Sitharaman.(PTI)

FM Nirmala Sitharaman to announce details of Centre’s Rs 20 lakh crore economic package at 4 pm today

In her address, Sitharaman will share the details of the Rs 20 lakh crore economic stimulus package that was announced by PM Modi on Tuesday to battle Covid-19.
Hindustan Times, New Delhi | By hindustantimes.com | Edited by: Sparshita Saxena
UPDATED ON MAY 13, 2020 12:43 PM IST

Union Finance Minister Nirmala Sitharaman will brief the media on Wednesday at 4 pm. In her address, Sitharaman will share the details of the Rs 20 lakh crore economic stimulus package that was announced by PM Modi on Tuesday to battle Covid-19.

In a series of tweets, the finance minister on Tuesday said “this shall not be just a financial package, but a reform stimulus, a mindset overhaul, and a thrust in governance.”

“Indian economy has acquired strength in its various dimensions. Now, we can confidently engage with the world. We aim at overall transformation & not incremental changes. We shall convert the pandemic challenge into an opportunity. #AatmanirbharBharat will integrate not isolate,” Sitharaman had tweeted.

Also Watch | PM Modi’s stimulus for self-reliant India. Enough to reboot Indian economy?

 

Prime Minister Narendra Modi on Tuesday addressed the nation and announced that the Rs 20 lakh crore stimulus package will infuse vitality into the economy and benefit all sections of the society from the migrant labourers to big businesses. He said the details of the package will be made public by the finance minister in the coming days.

Also read: Key points from PM Modi’s speech on economic package

The prime minister described it as “a special economic package that will serve as an important link to the ‘Self-reliant India Campaign (Aatma nirbhar Bharat)’”. The relief package amounts to roughly 10% of India’s gross domestic product (GDP) he said.

“This package will give a new impetus to the development journey of the country in 2020 and a new direction to the Self-reliant India campaign. In order to prove the resolve of a self-reliant India, Land, Labor, Liquidity and Laws all have been emphasized in this package,” the prime minister said on Tuesday.

He stated that the package is for the country’s “cottage industry, home industry, our small-scale industry, our MSME, which is a source of livelihood for millions of people, which is the strong foundation of our resolve for a self-reliant India”.

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