LIVE: Nirmala Sitharaman to Make Announcements for Agricultural Economy Reforms & Migrant Workers’ Benefits

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Finance Minister Nirmala Sitharaman on Thursday addressed the media to give further details on Rs 20 lakh crore economic stimulius package announced by PM Modi during his Tuesday’s televised address to the nation. It is the second consecutive day when the finance minister is providing details on the tranche of government’s relief package for businesses including various sectors in wake of coronavirus outbreak.

Earlier on Wednesday, Sitharaman laid out details of Modi government’s Rs 20 lakh crore economic stimulus package which included Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies; Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.

Among various other announcements, the fiinance minister said government has decided to reduce EPF contribution for businesses, workers for a period of 3 months in order to provide more take home salary and to give relief to employers in payment of PF.

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