Finance Minister Nirmala Sitharaman is announcing the finer details of the fifth tranche of Centre’s Rs 20 lakh crore fiscal stimulus announced by Prime Minister to soften the blow of the coronavirus and the lockdown on the economy. The Finance Minister is likely to announce fund infusion for infrastructure lending. The Finance Minister had on Saturday announced a number of structural reforms on Saturday in the coal, defence and civil aviation sector. A day earlier, Ms Sitharaman had announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) under the Rs 20 lakh crore stimulus package.
Here are the Highlights of Nirmala Sitharaman’s announcements on Day 5:
- As a nation, we stand at a very crucial juncture. Such a big disaster is a signal for India, it has brought a message and opportunity.
- In order to prove the resolve of an Aatma Nirbhar Desh, land, labour, liquidity and laws have all been emphasised in the special economic package. The crisis and the challenge is an opportunity to build a self reliant India.
- We will today be continuing in the series of reforms announced. Soon after lockdown, we came with PM Garib Kalyan Package, we provided food grains to those who needed it, we did not want to scout for money to search for grains.