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Published 21:29 IST, October 12th 2020

Sitharaman's announcements will boost demand in economy: PM Modi

The announcements made by Finance Minister Nirmala Sitharaman on Monday are "timely moves" which will boost demand in economy, Prime Minister Narendra Modi said. 

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The announcements made by Finance Minister Nirmala Sitharaman on Monday are "timely moves" which will boost demand in economy, Prime Minister Narendra Modi said. 

Sitharaman announced a payment of cash in lieu of LTC and Rs 10,000 festival advance to government employees to stimulate consumer demand during the festival season and boost the economy.

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She also announced additional capital spending and Rs 12,000 crore, 50-year interest-free loan to states to boost the economy that has been battered by the pandemic and the resulting lockdown.

(IMAGE CREDITS:PTI)

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21:29 IST, October 12th 2020