FM Sitharaman addresses media today; may announce stimulus package

FM Sitharaman’s address comes a day after the government announced new production linked incentives under another Rs 2 lakh crore PLI scheme for 10 major manufacturing sectors.

Finance Minister Nirmala Sitharaman Highlights: Finance Minister Nirmala Sitharaman today announced the long-awaited stimulus package ahead of Diwali. FM Sitharaman rolled out 12 stimulus measures to boost employment in the formal and informal economy, boost housing infrastructure, enhancing ease of doing business, extending the deadline for the Credit Line Guarantee Scheme, etc. The address comes a day after the government announced new production linked incentives under another Rs 2 lakh crore PLI scheme for 10 major manufacturing sectors.  The government also concentrated on announcing some fresh projects, collaterally boosting employment in the country. Finance Minister today announced an additional outlay of Rs 18,000 crore for PMAYUrban, which will help ground 12 lakh houses and complete 18 lakh houses. The move will create additional 78 lakh jobs and improve production and sale of steel and cement, resulting in a multiplier effect on the economy, theMinister said. The government today announced stimulus packages worth Rs 2,65,080 crores. The overall cost of the packages announced till date stands at Rs 29,87,641, which is 15 per cent of GDP.