New Delhi: The Centre's Modi government is likely to make a big announcement today on the relief package ahead of Diwali. Finance Minister Nirmala Sitharaman is going to hold a press conference at 12:30 pm today. According to media reports, the Central government is likely to announce a relief package to give impetus to the economy. As per the information received, a relief package can be given to industries related to employment generation.
According to media reports, the Modi government may also announce PF subsidy under the relief package. Under the government's announcement, the subsidy to companies can be 10% PF. It may also announce the reintroducment of the Government-called Pradhan Mantri Rozgar Up incentive scheme on March 31, 2020. According to media reports, the Modi government may announce a relief package as per the recommendations made by the KV Kamath Committee for 26 sectors.
The government may announce emergency credit for these sectors. This will enable companies to get loans without guarantee. The cabinet had announced a production-based incentive (PLI) of about 2 lakh crore rupees on Wednesday. The announcement comes for five years for manufacturers in 10 sectors.
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