Nirmala Sitharaman To Give Details On Disbursement Of Economic Package Announced By PM

FM Sitharaman calls it a reform package which is expected to boost domestic manufacturing, offer credit gurantees, implement tax breaks to MSMEs and push land reforms.

(PTI)

New Delhi: Prime Minister Narendra Modi announced the fourth phase of lockdown or lockdown 4.0 and an economic package of 20 lakh crore, on Tuesday  during his address to the nation in the evening. He said that Finance Minister Nirmala Sitharaman will further elaborate on the package. He had said,” 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. While announcing the mega economic package, PM Modi said that it is mostly going to benefit labourers, farmers, and MSMEs among other key sectors. "The package will be doled out in 2020 and aimed at minimizing the impact on agriculture, attract investments and ensure self-reliance," he said. Today, the Minister of Finance and Corporate Affairs of India Nirmala Sitharaman may announce the breakup of the package and give details on how it will be disbursed. Also watch: The economic package was welcomed by many leaders who felt that it will give the much-needed impetus to the economy. Madhya Pradesh Chief Minister Shivraj Singh Chouhan said the massive economic package will provide big support to various sections of the society including youth and farmers. He tweeted "AtmanirbharBharat banana ki aur bada kadam badhate hue PM Shri @narendramodi ne Rs 20 lakh crore ke vishesh aarthik package ki ghoshna ki hai, jiske liye me unka hardik abhinandnan karta hun". (This is another major step to make India self-reliant by announcing a package of Rs 20 lakh crore for which I congratulate Narendra Modi." The Prime Minister also highlighted the need for self-reliance in the speech yesterday. He said,” when India speaks of self-reliance, it does not advocate for a self-centered system. In India's self-reliance, there is a concern for the whole world's happiness, cooperation & peace” He also talked about the need for a strong infrastructure and he said that India’s infrastructure should become its identity.