FM Nirmala Sitharaman to announce details of Rs 20 lakh crore stimulus package at 4 pm

FM Nirmala Sitharaman to announce details of Rs 20 lakh crore stimulus package at 4 pm

Finance Minister Nirmala Sitharaman will on Wednesday share key details about the Rs 20 lakh crore relief package announced by Prime Minister Narendra Modi.

Nirmala Sitharaman will be sharing information on the break-up of the Rs 20 lakh crore relief package, which Modi said was more of a vision than a stimulus and added that it will include sweeping reforms that will act as India’s pillar of growth in future.

The package will include reforms in some existing land and labour laws besides additional liquidity support to jumpstart the bruised economy.

Sitharaman will be addressing the press conference at 4 pm today at the National Media Centre.

On Tuesday, Prime Minister Modi announced that India has readied an overall relief package of Rs 20 lakh crore, including the previous measures announced by the government and Reserve Bank of India.

He said the relief package will focus extensively on land and labour reforms apart from rewarding honest taxpayers and supporting the Indian farmer.

Modi went on to say that the economic package will pave the way for India to become "self-reliant" and that citizens should now be "vocal for local".

Not just Modi but Nirmala Sitharaman has also indicated that the package will revive the economy holistically and added that the Aatma Nirbhar Bharat will support people from all walks of life affected by coronavirus pandemic.

"This shall not be just a financial package, but a reform stimulus, a mindset overhaul, and a thrust in governance," she tweet.