FM NIRMALA SITHARAMAN TO ANNOUNCE DETAILS OF CENTRE’S RS 20 LAKH CRORE ECONOMIC PACKAGE TODAY

                Union Finance Minister Nirmala Sitharaman will brief the media on Wednesday at 4 pm, as per a media report. In her address, Sitharaman will share the details of the Rs 20 lakh crore economic stimulus package that was announced by PM Modi on Tuesday to battle Covid-19. Coronavirus has dealt a severe blow to economies across the world and developed, developing and poor countries are struggling to shake off the effects of Covid-19 on their economy. India has announced a fiscal package of $276 billion to help struggling companies and the MSME sector. Democrats in the US have also proposed a $3 trillion bill to help states and local governments recover from the onslaught of the pandemic. UK has decided to pay wages of employees until September as the Johnson-led government mulls to increase the jobs program package to $103 billion pounds. Several poor nations have turned to the IMF for credit. Chile has asked for $23.8 billion from the IMF while Zambia shall not get emergency coronavirus funding as the nation’s debt will reach 110% of GDP this year. Cases continue to rise as globally 43 lakh people remain infected by Covid-19. India has recorded 74,281 cases so far with 2,415 deaths.