FM to unveil Rs 20-lakh crore economic package shortly

Finance Minister Nirmala Sitharaman will address a press conference at 4pm to give out details of a Rs 20 lakh crore economic relief package announced by Prime Minister Narendra Modi on Tuesday to soften the devastating impact of coronavirus pandemic and the lockdown on the Indian economy.

Today’s will be the first of a series of press briefings by the finance minister in the coming days. The Rs 20 lakh crore sum. which is equal of 10 per cent of India's Gross Domestic Product (GDP), includes Reserve Bank of India's liquidation worth close to Rs 8.04 lakh crore along with Rs 1.7 lakh crore relief package under Gareeb Kalyan Yojana spelled out by Sitharaman last month. The balance of the economic package, details of which are not yet known, then stands at Rs 10.26 lakh crore.

(Text - News18)