FM Nirmala Sitharaman says that this shall be a reform stimulus and not just a financial package

Union Finance Minister Sitharaman’s press conference at 4 PM today comes on the very next day after India’s Prime Minister Narendra Modi declared Rs 20 trillion financial package to cope with the coronavirus condition in the country

Nirmala Sitharaman, Union Finance Minister will address a press conference in New Delhi at 4 pm on Wednesday, in reference to the financial package which was declared yesterday by the prime minister. On Tuesday, Sitharaman had stated that the Indian economy has gained the strength and “now we can confidently engage with the world.” She also added,  “this shall not be just a financial package, but a reform stimulus.”

Sitharaman even tweeted, “Indian economy has acquired strength in its various dimensions. Now, we can confidently engage with the world. We aim at overall transformation and not incremental changes. We shall convert the pandemic challenge into an opportunity. Aatmanirbhar Bharat will integrate not isolate.”

The Finance Minister’s press conference is going to take place after a day, Prime Minister Narendra Modi declared Rs 20-trillion financial package to cope up and this package is the second largest in Asia following Japan. On Tuesday, the Prime Minister addressed to the nation and said, “I announce a special economic package today. This will play an important role in the ‘Atmanirbhar Bharat Abhiyan.’ The announcements made by the government over COVID, decisions of RBI, and today’s package totals to Rs 20 trillion (USD 265 billion). This is 10 percent of India’s GDP.”  

He further mentioned, “This economic package is for our small-scale industries, MSMEs, which are the means of livelihood of crores of people and is the strong base of our resolve for self-reliant India. To prove the resolve of self-reliant India, the emphasis has been given on land, labor, liquidity, and laws, in this package.” 

The PM had even mentioned that this package is for “the country’s workers, farmers, who are working hard day and night for the countrymen in every season. This economic package is for the middle class of our country, who pays tax honestly and contributes to the development of the country.” Furthermore, he said that the fourth phase  of the nationwide lockdown would be in “new form with new rules.”

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *