NEW DELHI: Prime Minister Narendra Modi today announced the much-awaited stimulus package that, combining the previous packages announced by the central bank and the government, make it a Rs20 trillion stimulus for the economy.
It amounts to nearly 10% of the GDP. The package covers land, micro, small and medium enterprises and the salaried class. Finance Minister Nirmal Sitharaman will give details of the package on Wednesday, the PM said.
In his half-hour-long address to the nation, he said the government will undertake reforms to encourage businesses and simplify taxes for a strong financial system.
The government had in March announced a Rs1.7-trillion package while the Reserve Bank of India has so far announced liquidity measures
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