PM Modi meeting with FM on economic stimulus package

PM Narendra Modi on Saturday held a series of meetings with Home Ministers Amit Shah and Finance Minister Nirmala Sitharaman, and key ministers with officials from the economic ministries, giving a second stimulus package for areas affected by the lockdown to curb the spread of coronovirus.

PM Modi held discussions with Mr. Shah and Ms. Sitharaman and will hold meetings with ministers of key economic ministries like Micro, Small and Medium Enterprises (MSME).

The Finance Ministry, which released the monthly GST collection number on Friday, plans to make a detailed presentation on the state of the economy to PM Modi later in the day and take several initiatives to stimulate the Indian economy.

PM Modi on Friday held meetings with various ministries including civil aviation, labor and electricity. He had detailed consultations with the ministries of commerce and MSME on Thursday to attract other domestic and foreign investment and focus on revival of small businesses in the country so that the recovery process takes place at the earliest.

Also read: PM Modi holds a meeting to discuss ways to boost agriculture sector

Both Home Minister and Finance Minister were present during these meetings.

To ease the difficulties at the bottom of the pyramid, in late March the government announced an incentive package of ₹ 1.7 lakh crore to poor women and the elderly in the poor and cash mines containing free food and cooking gas.

Sources said the government is considering announcing a second dose of relief measures for the segment soon and an incentive package for India Inc.

The government implemented a 21-day nationwide lockout beginning on 25 March and later extended it to 3 May.

The lockdown shut down businesses, stopped air and rail travel and restricted the movement of people and goods.

From May 4, the government has decided to ease some restrictions, including opening industries for green and orange districts that have either zero or fewer cases. The relaxation of restrictions in designated districts is due until 17 May, with strict monitoring by the local administration.