Govt’s next economic package: Relief to come in tranches

New Delhi, Apr 16: As the Central Government prepares an economic package a meeting of Prime Minister Narendra Modi and Finance Minister, Nirmala Sitharaman took place today.

The government is preparing an economic stimulus package so that the businesses can stay afloat.

The relief will be in tranches and the government is not planning any big bag announcement, reports state. The new package would focus on micro, small and medium enterprise segments. It would also provide relief to the travel and aviation sectors, which had been the worst hit by the coronavirus crisis.

The government would announce interim measures first for the hardest-hit sectors. There has been a demand to announce a package of Rs 10 lakh crore. The government on Wednesday said that it would open certain sectors from Monday onwards to ease the hardship of the daily wagers and farmers.

The businesses have sought greater bank credit to provide wages which could be interest and collateral-free in the case of small firms. Further, a six-month deferral of tax dues without penalty, suspension of bankruptcy code for six months and liberal handouts to needy houses have also been sought for.