New Delhi: Union Finance Minister Nirmala Sitharaman will hold a press conference at 4 pm today. Through the press conference, she will explain the specifics of the relief package. She will also tell in which areas 20 lakh crore will be used and how much will be given to them.
How will this amount be used? Prime Minister Narendra Modi on Tuesday announced an economic package of 20 lakh crore to bring back the economy of the country, which was affected by the Coronavirus crisis.
— Narendra Modi (@narendramodi) May 12, 2020
Let me tell you that Prime Minister Narendra Modi on Tuesday announced a relief package of Rs 20 lakh crore to revive the Indian economy from the Coronavirus crisis. This would be around 10 percent of Indian GDP. With this, India has become the fifth largest country in the world in terms of giving relief package. Japan is the first to give the largest relief package and the US is in second place.
Let me tell you that the Finance Minister Nirmala Sitharaman will announce the announcements related to all the fields one by one from Wednesday. However, she definitely gave indications that this package has taken care of every section associated with the society.
— ANI (@ANI) May 13, 2020
Preparations have been made towards strengthening all sections including the poor, laborers, migrants, and fishermen. Economic experts say that India’s package on the coronavirus is expected to be quite extensive.
In this, farmers can get many concessions including tax exemption to companies with special relief to laborers. The government is eyeing companies exiting China. In such a situation, the government may also announce a special concession to attract foreign investment.
Prime Minister Narendra Modi also gave a roadmap for India to become a major economic force globally. He said that India has the best talent in the world. With its use, we will make the best products in the coming days and the supply chain will also have to be modernized while improving its quality. Modi said that in order to prove the resolve of self-reliant India, the package will also arrange for changes in land, labor, liquidity, and necessary laws.
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