FM to announce second phase of economic package at 4 pm today

New Delhi, May 14: Nirmala Sitharaman will make the second phase of the announcement on the economic package at 4 pm today.

This is the second phase of the announcement on the government's Rs 20 lakh crore package. The presser today comes a day after Nirmala Sitharaman had shared details of the stimulus package on Wednesday.

On Wednesday the Finance Minister had said that one the next few days, her team will put forth before the media Prime Minister Narendra Modi's vision and also share further details on the economic package.

On Wednesday, the FM announced a host of measures under the package. She also said that this would infuse vigour into the economy. Some of the key announcements were with regard to the TDS, TCS rate cut for the non-salaried payments upto March 31, 2021.

The rate was cut by 25 per cent.

Further, the definition of MSMEs had been revised and the investment limit was lifted upwards.