Details about the Rs 20 lakh crore relief package, which is a mix of fiscal and monetary measures, will be given by Finance Minister Nirmala Sitharaman later in the day.
HIGHLIGHTS
- The 20 lakh crore relief package will provide a land, labour and liquidity boost
- A lion’s share of the package will be dedicated to stabilising smaller industries including MSMEs
- The package may also have benefits for honest taxpayers
Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore relief package to support the economy in the wake of economic devastation caused by the coronavirus pandemic.
Details about the relief package, which is a mix of fiscal and monetary measures, will be given by Finance Minister Nirmala Sitharaman later in the day.
You might also be interested to read: Labour Laws Suspension By States To Pull Businesses Out Of Crisis: ISF
A part of the Rs 20 lakh crore relief package, under the Atmannibhar Bharat Abhiyan, includes previous measures that were announced by the government earlier.
It includes measures already undertaken by the Reserve Bank of India to boost liquidity worth approximately Rs 6.5 lakh crore and the Rs 1.7 lakh crore package announced earlier for the marginalised section.
The fresh relief package could include a mix of reforms in tax, labour and land laws besides providing liquidity relief to a large number of small businesses across sectors affected by the nationwide lockdown.
Source: India Today
