In a short time from now, Finance Minister Nirmala Sitharaman will maintain a press convention to announce the subsequent lot of measures beneath the Rs 20 lakh crore financial stimulus package deal. Centre has introduced a bunch of liquidity and monetary measures to this point in three such tranches since Wednesday for various sectors and segments of society have been introduced.
Within the final tranche, FM had introduced measures to assist the agricultural sector. Amongst different measures, Important Commodities Act has been amended to take away meals grains, edible oil, oil seeds, pulses, onion and potato from its purview. A Rs 1 lakh crore fund has additionally been set as much as develop agricultural infrastructure at farm-gate. Farmers may also been given the selection of promoting their produce at engaging costs in a market of their selection by the best way of a brand new regulation.
Comply with BusinessToday.In for up to date updates from FM Sitharaman’s press convention:
three.44 PM: A number of sectors have been badly hit as a result of coronavirus outbreak and subsequent lockdowns. Few of the worst hit sectors are aviation, hospitality and journey. Whereas every of those sectors have their particular calls for, some widespread calls for embrace direct tax and GST vacation, and authorities assist for cost of salaries to workers.
three.43 PM: PM Modi praises bulletins for farm sector
https://twitter.com/narendramodi/status/1261315951758389249?ref_src=twsrc%5Etfw
three.42 PM: Finance Minister Nirmala Sithraman introduced 11 key measures in Tranche III, together with a mix of schemes and modifications in authorized framework, to assist nation’s agricultural sector amid the coronavirus lockdown. Whereas daring, these strikes are anticipated to take time earlier than they turn into actuality.
three.36 PM: The spotlight of the third tranche of measures have been the authorized reforms meant to assist the farmers. These confer with modifications relating to Important Commodities Act, Agriculture Produce Advertising and marketing Committee and Contract Farming, which have been hailed as daring and progressive.
three.32 PM: The three tranches of financial stimulus introduced to this point closely give attention to liquidity measures for avenue distributors, poor, migrant employees and farmers, however don’t a lot fiscal outgo. The federal government is limiting fiscal spending over considerations that extra spending may set off a sovereign score downgrade, authorities officers advised Reuters.
three.20 PM: The final tranche of measures focussed on agriculture sector, together with Rs 1 lakh crore fund for agri infrastructure, amendments to Important Commodities Act, and a brand new regulation to permit farmers to promote their produce at engaging costs in a market of their selection.
https://twitter.com/PIBChandigarh/status/1261344230783373313?ref_src=twsrc%5Etfw
three.19 PM: The press conferenc at four PM will probably be broadcasted stay on YouTube, Twitter and Fb.
FM Smt. @nsitharaman to deal with 4th press convention saying Govt’s roadmap in direction of #AatamnirbharBharat TODAY at four PM
Watch LIVE right here 👇
➡️YouTube- https://t.co/C7d2aaf7VW
Comply with for LIVE updates 👇
➡️Twitter – https://t.co/XaIRg3fn5f
➡️Fb – https://t.co/06oEmkxGpIpic.twitter.com/rBa2usxr9b
— Ministry of Finance 🇮🇳 #StayHome #StaySafe (@FinMinIndia) Might 16, 2020
three.17 PM: FM Nirmala Sitharaman will maintain a press convention at four PM to announce the fourth tranche of measures beneath the Atma Nirbhar Bharat stimulus package deal.