Union Finance Minister Nirmala Sitharaman will address the media at 4:00pm on Wednesday (13 May) to share the details of the economic package worth Rs 20 lakh crore which was announced by Prime Minister (PM) Narendra Modi last night.
The Union Finance Ministry, taking to Twitter informed about the scheduled press conference of the Minister.
While informing about the form of the fiscal stimulus, FM Sitharaman last night said it was not just going to be 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,” she had said.
Prime Minister Narendra Modi in his address to the nation on Tuesday announced a mega economic package to fulfil India’s dream of self-reliance.
Prime Minister Modi said that the total economic impetus by the government following this package will stand at a whopping Rs 20 lakh crore - which roughly translates to 10 per cent of India’s GDP. This figure will include the measures already announced by the Finance Ministry and the Reserve Bank of India (RBI).
This package focuses on four key aspects - land, labour, liquidity and laws and is especially aimed at India’s farmers, workers, middle class and businesses. It will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others.
“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.
The detailed breakup of this package would be given by the Finance Ministry in the coming days, he had said.
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