FM Nirmala Sitharaman May Announce New Stimulus Package For Stressed Sectors Ahead of Diwali 2020, at 12:30 PM Today
Union Finance Minister Nirmala Sitharaman will address media at 12:30 PM on Thursday. According to reports, the government is expected to announce stimulus package ahead of Diwali 2020.
New Delhi, November 12: Union Finance Minister Nirmala Sitharaman will address media at 12:30 PM on Thursday. According to reports, the government is expected to announce stimulus package ahead of Diwali 2020. There are reports that the Narendra Modi government will announce a Rs 3 lakh crore stimulus for the stressed sectors in an attempt to revive and generate employment.
This package would include the production-linked incentives of more than Rs 1.45 lakh crore for manufacturers in 10 sectors announced on Wednesday. Ever since the coronavirus outbreak and lockdowns due to it, the Centre has rolled out several measures to revive the economy fro its deep crisis. Diwali Bonanza: PLI Scheme Approved by Modi Cabinet; 10 Sectors to Get Benefits Worth Rs 1.46 Lakh Crore Over 5 Years; Automobile Sector Gets Maximum Share; Know Details.
The presser comes a day after the Union Cabinet gave its approval to the PLI scheme for 10 sectors, under which businesses will get incentives worth over Rs 2 lakh crore in 5 years.
The PLI scheme is aimed at enhancing India's manufacturing capabilities and exports. "It will make Indian manufacturers globally competitive, attract investment and enhance exports," said Union Minister Prakash Javadekar.
(The above story first appeared on LatestLY on Nov 12, 2020 10:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).