New Delhi: A day after Prime Minister Narendra Modi announced a stimulus package of Rs 20 Lakh Crore to tide over the difficulties posed by the lockdown necessitated by the outbreak of the coronavirus in India, finance minister Nirmala Sitharaman is likely to give out details of the package in a series of press conferences — likely to start from today. No details were shared by the PM, which drew flak from the opposition. Former finance minister and senior Congress leader P Chidambaram said the announcement was a headline and a blank page with no details. Also Read - Virtual Rallies, Conferences: This is How BJP Plans to Celebrate First Anniversary of Modi Govt 2.0
Here are what you can expect from the package which is equivalent to the 10 per cent of India’s GDP. Also Read - On First Day of Last Week of Lockdown 4.0, India Reopens Its Skies; Highest Single-Day Spike of 6,977 Recorded | 10 Points
1. Self-Reliance: Every One Will Get Something Also Read - Uttar Pradesh News: State Govt Releases 2257 Convicts on Parole For 8 Weeks to Decongest jails
Union home minister Amit Shah on Tuesday tweeted that the package will benefit every section of the country. “In every decision of the Modi government, the interest of the country and the countrymen has been at the centre. A special package of about Rs 20 lakh crores announced by the Modi government is reflective of this,” Shah tweeted.
2. 4Ls: Land, Labour, Liquidity, Law
Special economic package is for our labourers, farmers, honest taxpayers, MSMEs and cottage industry. This package will have an emphasis on land, labour, liquidity and laws, the PM had said.
3. Rs 1.7 Lakh Crore Package of Free foodgrain
This bumper package includes the Rs 1.7 lakh crore package of free foodgrain to the poor and cash to poor women and elderly, which were announced in March. This also takes into account the RBI’s liquidity measures and interest rate cuts.
The March package was 0.8 per cent of the GDP.
4. Tax relief?
Yes, tax relief can be expected as PM Modi said small, micro, medium enterprises will be covered in this package.
5. Labour reforms?
Several state governments are reforming labour laws to compensate the days lost during the lockdown. There may be some central announcements.
(With PTI Inputs)