FM Nirmala Sitharaman to detail India's Rs 20 lakh crore Covid package at 4pm on Wednesday

Finance Minister Nirmala Sitharaman will dress a press conference of Wednesday at 4 PM in New Delhi to provide details of Rs 20 lakh crore ecomic pack anunced by Prime Minister Narendra Modi on Tuesday to tackle Coronavirus pandemic and usher in an 'Aatmanirbhar' or self-reliant India.

PM Modi anunces mega ecomic pack

In a big push to revive Coronavirus-hit ecomy, Prime Minister Narendra Modi on Tuesday anunced massive new financial incentives on top of previously anunced packs, entailing a combined stimulus of Rs 20 lakh crore, saying COVID-19 crisis has provided India with an opportunity to become self-reliant and emerge as best in world.

Apart from Reserve Bank of India (RBI) assistance, government h last month anunced a Rs 1.74 lakh crore pack to provide benefits to poor, including cash transfers, Rs 50 lakh insurance cover and steps to ensure food security. In a televised dress to nation, Prime Minister also said re will be a fourth phase of lockdown which will be very different from earlier three phases. third phase of 54-day lockdown is scheduled to end on May 17.

About financial pack, Prime Minister said it will be around 10% of GDP and "will play an important role in Atmanirbhar Bharat Abhiyan' (self-reliant India campaign), ding that "anuncements me by government so far, decisions of RBI and today's pack totals to Rs 20 lakh crores".

special ecomic pack will have an emphasis on land, labour, liquidity and laws, and will be for "our labourers, farmers, honest taxpayers, MSMEs and cott industry", PM Modi said.

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Finance Minister Sitharaman h n tweeted:

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(With PTI inputs)