Finance Minister To Address Media At 1 pm, May Announce Stimulus Package

Finance Minister To Address Media At 1 pm, May Announce Stimulus Package

Finance Minister To Address Media At 1 pm, May Announce Stimulus Package
These cases are perfectly simple and easy to distinguish

Finance Minister To Address Media At 1 pm, May Announce Stimulus Package

Finance Minister Nirmala Sitharaman will address the media at 1 pm today amid reports of an announcement of an economic bailout package to tide over the impact of coronavirus.

In her last press meet on Tuesday, Nirmala Sitharaman said: "The economic package is going to be announced soon."

The Indian economy that had already slowed down before the outbreak of coronavirus, is in for a more difficult period in the coming months with businesses almost coming to a standstill. The finance ministry and the RBI have taken several steps to ensure that liquidity in the system remains intact. But Industry has called for more stimulus measures to fight depression like conditions setting in the economy.

On Tuesday, Ms Sitharaman announced a slew of measures ranging from extension of deadline for filing income tax returns to waiving cash withdrawal fee for using automatic teller machine (ATMs) of other banks and relaxing threshold for insolvency proceedings to Rs 1 crore.