Economic Package: Nirmala Sitharaman to address press conference at 4 pm

New Delhi:Union Finance Minister Nirmala Sitharaman will address the media at 4 pm in the fourth phase of announcements on government’s Rs 20 lakh crore package.

In her fourth press conference to share details of an economic package announced by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman also announced a cluster-based approach to promote the mantra of “vocal for local with global outreach”.

“Financing facility of Rs 1 lakh crore will be provided for funding agriculture infrastructure projects and aggregators like Farmers Producer Organisation, agricultural entrepreneurs, primary agriculture cooperative societies etc,” said the Finance Minister. This fund will be used for setting up cold chains and post-harvest management infrastructure.

A fund of Rs 10,000 crore has been set aside for Micro Food Enterprises, with a cluster-based approach of promoting state-wise produce – for instance, makhana from Bihar, Kesar in Jammu and Kashmir, mango in Uttar Pradesh, bamboo shoots in North-East, chilli in Andhra Pradesh, tapioca in Tamil Nadu and turmeric from Andhra Pradesh.

“Turmeric latte is a big thing these days and we produce a lot of turmeric,” said the minister.

Earlier this week, Prime Minister Narendra Modi had announced a cumulative package of Rs 20 lakh crore, nearly 10 per cent of India’s GDP, to help various sections of the economy battered by coronavirus lockdown.