PACKAGE .. Nirmala to give details of economic package today; high hopes for all sectors

NEWS FINANCE NIRMALA
NEW DELHI: The nation will know by 4pm on Wednesday the details of the Rs 20 lakh crore economic revival package announced by Prime Minister Narendra Modi in a nationwide address a day ago. Finance minister Nirmala Sitharaman will announce salient features of the package at 4pm. The package will be a complete listing of the previous packages announced by the government as also the RBI, of the order of nearly 7lakh crore, it is pointed out.

The package is named by Prime Minister as the Aatma Nirbhar Bharat Abhiyan and is of the size equal to 10 per cent of the nation’s GDP.

The government is keen on resumption of industrial and business activities the soonest in the maximum areas as possible, leaving out the red zones, principally Mumbai, Delhi, Ahmedabad, Pune etc. Over 200 districts out of the total 720 districts are Covid-free.

COVID HIGHLIGHT
According to the Union Health Ministry on 
Wednesday, the number of Covid-19 positive 
cases stand at 74,281 in the country. The 
ministry also said that 2,415 people 
have died due to the disease.


Former Union finance minister P Chidambaram, who was recently out of Tihar Jail in connection with financial crime and bribe-taking charges, said what the Prime Minister stated on Tuesday was just a “headline with a blank page” – meaning it was more a show and less of stuff.


However, the stimulus package is expected to touch all sectors of the economy. An indication of what is in store came from Sitharaman a day ago, when she stated in a tweet: “We will build capabilities, skill people and compete globally, acquiring new strengths. We will build the local (manufacturing segment). After all, every global brand began with their local strength. We shall integrate with Global Value Chains.” –IHN-NN

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