Union Finance Minister Nirmala Sitharaman will address a press conference at 3 pm today. During this, Sitharaman is likely to announce another economic relief package.
Last week, CNBC-TV18 reported that the new stimulus package may include a scheme to promote health infrastructure in tier 2 cities and an increased Emergency Credit Line Guarantee Scheme (ECLGS) limit of Rs 4.5 lakh crore.
The Cabinet nod for up to Rs 31,000 crore government guarantee for ‘bad bank’ structure is also in process, sources had informed CNBC-TV18.
This development came after Principal Economic Advisor to the Finance Ministry, Sanjeev Sanyal said that the Centre will closely monitor COVID-19 infection data for six weeks to chart the path it needs to walk for economic intervention, instead of making announcements based on projections of the third wave, according to PTI.
The government and Reserve Bank of India have together announced stimulus measures worth Rs 29,87,641 crore to revive the economy, Finance Minister Nirmala Sitharaman had said in November last year while announcing stimulus measures under Atmanirbhar Bharat Abhiyaan 3.0.