FM Nirmala, Home Secy at PMO for pre-package huddle; PM Modi to meet empowered group heads

Hours ahead of detailing contours about stimulus pack rolled out to boost ecomy that has been affected due to Coronavirus lockdown, Finance Minister Nirmala Sitharaman, Home Secretary and or PMO officials are meeting at PM's residence. Sources said that Finance Minister and or officials reached Prime Minister's office at around 2 PM.

PM Modi will also meet Chairpersons of Empowered Groups later on Wednesday.  government had set up empowered groups, chaired by NITI Aayog CEO Amitabh Kant, to undertake discussions with private sector and international organisations on actions planned and challenges faced in dealing with COVID-19.

Earlier, it was anunced that Finance Minister Nirmala Sitharaman will address a press conference at 4 PM to provide details of  ecomic relief pack that was anunced by Prime Minister Modi on Tuesday. Prime Minister had said that along with previous measures rolled out by Reserve Bank of India, stimulus pack provided by Central government is worth Rs 20 lakh crore.

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PM Modi's anuncement

Prime Minister Narendra Modi anunced a financial pack with an aim to make India self-reliant (Aatmanirbhar). According to him, earlier decisions of Centre along with new pack totals to Rs.20 lakh crore- i.e 10% of India's GDP.   details of pack shall be anunced by Union Finance Minister Nirmala Sitharaman on Wednesday, May 13 at 4 PM.

READ | Finance Min lauds PM's anuncement of ecomic pack, stresses 'everyone to benefit'

PM mentioned that this would benefit workers, hawkers, street vendors, farmers, business class, etc. He added that special emphasis has been paid to land, labour, liquidity and laws. PM Modi also said that a self-reliant India should be vocal about local so that it can be global. About lockdown extension, he said that citizens will be informed about new guidelines of Lockdown 4.0 before May 18.

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READ | PM Modi anunces ecomic pack of Rs.20 lakh crore worth 10% of India's GDP