Economy News

FM will announce Big Package in Diwali – A Report

On November 12th the finance minister Nirmala Sitharaman will announce a big Diwali package this afternoon.

This will mostly include all those sectors which have been affected the most by the coronavirus pandemic like tourism sector.

There will be a press conference on 12th November when she will make the announcement.

In May there was a similar announcement in which the budget of the package was approximately 20 crores this would be less than the previous one.

This package will basically focus on the sectors worst affected and most importantly to give employment to the people.

The Centre has identified 50 infrastructure projects across regions of the country and across sectors.

Due to the impact of COVID-19 on the economy, the sources are better spent on infrastructure.

These 50 projects from the National Infrastructure Pipeline will be on a priority basis.

The Centre is aware of the fact that sectors like hospitality, tourism and aviation have been the worst hit due to the COVID-19 pandemic.

There were many discussions and debates about this.

On November 11, the Union Cabinet had approved the Production-Linked Incentive (PLI) scheme for 10 sectors.

The sectors include pharmaceuticals, automobiles and auto components etc.

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