Finance Minister Nirmala Sitharaman to announce third tranche of Centre’s economic package at 4 pm today

Finance Minister Nirmala Sitharaman will maintain a press convention at four pm right this moment. This goes to be her third press briefing in as many days.

Sitharaman has been asserting the tranches of the Rs 20 lakh crore bundle introduced by Prime Minister Narendra Modi. PM Modi had introduced the bundle throughout his handle to the nation on Tuesday, vowing to make the nation ‘atmanirbhar’ or self-reliant. He mentioned that this might be 10 per cent of the nation’s Gross Domestic Product or GDP.

Sitharaman might be holding each day press conferences until Sunday.

Free meals grains and pulses for migrants, extra jobs for tribals and people in rural areas, and credit score to small enterprises, road distributors and small farmers – these have been among the highlights of the second section of the bundle which Sitharaman introduced on Thursday.

Totalling Rs 3.16 lakh crore, the schemes embrace 5 kg rice or wheat and 1 kg ‘chana’ (chickpea) a month, for 80 million migrant households for 2 months. It will price Rs 3,500 crore, Sitharaman mentioned at her press convention on Thursday.

A Rs 1,500-crore curiosity low cost scheme geared toward 30 million models, a Rs 5,000-crore particular credit score facility for 5 million road distributors, a Rs 6,000-crore Compensatory Afforestation Management & Planning Authority (CAMPA) fund for offering jobs to tribals, a Rs 30,000 core emergency working capital scheme for farmers, a Rs 70,000-crore increase to lower-middle class housing and Rs 2-lakh crore concessional credit score provide to 25 million farmers by means of Kisan Credit Cards have been the opposite factor introduced by her.

Sitharaman mentioned that the short-term and the long-term measures are supposed to assist the poor, together with migrants, farmers, tiny companies and road distributors. “Farmers and workers are the backbone of this nation. They serve all of us with their sweat and toil,” she mentioned on Thursday.

The first tranche of the bundle, totalling about Rs 5.9 lakh crore, which was introduced by Sitharaman on Wednesday, was primarily centered on offering straightforward credit score services to micro, small and medium enterprises (MSMEs) and non-banking finance corporations (NBFCs).