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Diwali cheer? Sitharaman likely to announce third set of stimulus package to boost economy today
12-November-2020

Union Finance Minister Nirmala Sitharaman is expected to announce the third set of stimulus package to boost the coronavirus-hit economy today. According to a report in news agency Reuters, the package, ahead of Diwali, could offer a stimulus totalling about 1.48 lakh crore to help the economy.

The announcement is likely to be made in Sitharaman's press conference scheduled for 12.30 pm today.

Last month, Sitharaman had announced a slew of measures to spur demand and ramp-up capital expenditure. This was the third stimulus package since the COVID-19 outbreak.

Earlier in March, the government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) to protect the poor and vulnerable sections from the impact of COVID-19 crisis. It was followed by the Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore in May, largely focussed on supply-side measures and long-term reforms.

Sitharaman had hinted at another stimulus package last month itself. "I have not closed the option for another stimulus package if it comes out to be, because every time we announced one, it has been after a lot of consideration of inputs which have come from various sections of society. Then we sit and work it out within the ministry and Prime Minister's Office and then take a final call. So, I have not closed the option to come up with one more stimulus," she had said.