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FM Nirmala Sitharaman rolls out last set of economic measures: Focus on 7 steps today

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New Delhi, May 17: Finance Minister Nirmala Sitharaman began media briefing on fifth and final tranche of Rs 20 lakh crore economic package to boost the coronavirus COVID-19-hit economy.

FM begins rollout of last set of economic measures

Sitharaman began the press conference by quoting Prime Minister Narendra Modi, says 'turning crisis for India into an opportunity'.

Highlights of Finance Minister’s fifth and final announcement of economic package

"Over the past four days, we have had several reforms addressing the land, labour, liquidity and laws. Today's announcements will be continuing that series," says Nirmala Sitharaman.

Sitharaman said that 20 crore Jan Dhan account holding women got Rs 10,025 crores, 2.2 crore building and construction workers got Rs 3,950 crores, 6.81 crore people got free LPG cylinders and 12 lakh EPFO holders got online withdrawal of advance.

"Pulses were given three months in advance. I appreciate concerted efforts of Food Corporation of India, National Agricultural Cooperative Marketing Federation of India&states, giving pulses and grains in huge quantities, despite logistical challenges," she said.

"7 steps to be announced today -- health (rural and urban), education, business and Covid, decriminalisation of Companies Act, ease of doing business, public sector enterprises and state governments' resources," she said.

"Pradhan Mantri Garib Kalyan package used technology to do direct benefit transfer to people. We could do what we did because of the initiatives taken during the last few years," she said.

Fifth and final phase of economic package: Sitharaman’s announcement at 11 am today

"One-time transfer of Rs 2,000 has reached 8.19 crore farmers, total amount Rs 16,394 crore. NSAP beneficiaries got Rs 1,405 crore in first installment and Rs 1,402 crore in second installment, target of Rs 3,000 crore nearly achieved," Sitharaman said.

On Saturday, Sitharaman addressed a press conference and unveiled the fourth tranche of government's economic package to provide relief to various segments of the country battered by the coronavirus lockdown.

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