Finance minister Nirmala Sitharaman announced the final tranche of mega Covid-19 package on Sunday, with focus on MNREGA, education and health.
"The public expenditure on health will be increased. Investment at grass root levels will be ramped up for health and wellness centres, both in rural and urban areas," she added.
#LIVE: Press Conference by Finance Minister Nirmala Sitharaman https://t.co/RIO05UUzxx — Newsroom Post (@NewsroomPostCom) May 17, 2020
The Finance Minister on Saturday said that the central government will introduce competition, transparency and private sector participation in the coal sector and will do infrastructure development of Rs 50,000 crore.
She also proposed amendments to the Essential Commodities Act to enable better price realisation for farmers and said no stock limit should apply to processors or value chain participants.
This stimulus is the fourth tranche of Rs 20 lakh crore special economic package announced by the Prime Minister to revive the economy battered by the Covid-19 pandemic.
Sitharaman said that infrastructure development of Rs 50,000 crore in the sector for the evacuation of enhanced Coal India Limited's (CIL) target of one billion tonnes coal production by 2023-24 plus coal production from private blocks.
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".
Finance Minister Nirmala Sitharaman on Friday announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) in the third tranche of Rs 20 lakh crore stimulus package.
Sitharaman also said that the Rs 10,000 crore scheme for the formalisation of MFE promotes Prime Minister Narendra Modi's vision of 'Vocal for Local with global outreach.'