Finance Minister Nirmala Sitharaman is expected to give a complete breakup of the covid-19 relief package worth Rs 20 lakh crore by Prime Minister Narendra Modi from today. It is reported that information will be given on this for four days. The four Ls that focus on land, labor, law and liquidity will be released in a day. Today the Finance Minister will make the first announcement at 4 pm.
Breakup of 12 lakh crore rupees package
Let us inform you that about Rs 8 lakh crore of the Rs 20 lakh crore package was already released by the RBI and the government. Now a breakup of Rs 12 lakh crore package will be given. Out of this, 50,000 crore rupees can be declared for tax. While the power sector may get around one lakh crore rupees. Similarly, a large amount of allocation can be done for the poor of the country through direct benefit transfer. In this, NBFCs and housing finance companies may have allocation of about one lakh crore rupees.
Emphasis will be given on sectoral reforms
Sectoral reforms may be emphasized on the third and fourth days. This reform will focus primarily on aviation, mining, defense. The government will focus on reforms to strengthen the economy. SMEs and Agro sector will get the largest share out of this package. While Agri is expected to get Rs 3 lakh crore, MSME can get Rs 2.5 lakh crore. A large amount can also be allocated for unorganized sector like handcart and hawkers. The housing sector may also get a bigger package.
MSME, Aviation and Finance will get more money
The Finance Minister will issue it in several stages, so it is possible that today a decision can be taken on the matter of land or laborers on the first day. This package of the government will strengthen the MSME, aviation and finance sectors. It is reported that the government can benefit several sectors simultaneously through liquidity. Liquidity means money will be given through banks which will focus on realty, construction, NBFC etc. The government will change the tax structure and increase the import duty. This may make it a little easier for him to complete 20 lakh crore rupees.