Union Finance Minister Nirmala Sitharaman is anticipated to introduced the third set of stimulus package to boost the coronavirus-hit economy today. According to a report in information company Reuters, the package, forward of Diwali, might provide a stimulus totalling about 1.48 lakh crore to assist the economy.
The announcement is likely to be made in Sitharaman’s press convention scheduled for 12.30 pm today.
Last month, Sitharaman had introduced a slew of measures to spur demand and ramp-up capital expenditure. This was the third stimulus package because the COVID-19 outbreak.
Earlier in March, the federal government had introduced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) to defend the poor and susceptible sections from the influence of COVID-19 disaster. It was adopted by the Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore in May, largely focussed on supply-side measures and long-term reforms.
Sitharaman had hinted at one other stimulus package final month itself. “I have not closed the option for another stimulus package if it comes out to be, because every time we announced one, it has been after a lot of consideration of inputs which have come from various sections of society. Then we sit and work it out within the ministry and Prime Minister’s Office and then take a final call. So, I have not closed the option to come up with one more stimulus,” she had mentioned.