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Nirmala Sitharaman to hold press meet at 3 PM

Finance Minister Nirmala Sitharaman will hold a press conference at National Media Centre in Delhi around 3 PM on Tuesday

twitter-logoBusinessToday.In | December 31, 2019 | Updated 13:21 IST
Nirmala Sitharaman to hold press meet at 3 PM
Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman will hold a press conference at National Media Centre in Delhi around 3 PM on Tuesday. Press Information Bureau, in a statement, confirmed the FM would hold a presser on Tuesday afternoon.

This is the second press by the FM in less than a week. During her last meet on Saturday, the FM made major announcements including waiving of MDR (merchant discount rate) on payment via RuPay and UPI platforms. She also assured the government support for bankers to take prudent commercial decisions and launched an online portal for auction of assets attached by banks.

Also read: Govt bans levy of MDR fee on payment via RuPay, UPI; to boost cashless transactions

Though there's no clarity on what she's going announce, reports suggest the FM will announce some measures to revive the economic slowdown. The country is battling a severe slowdown for several quarters now.

In September quarter of this fiscal, the GDP growth slipped further to hit an over six-year low of 4.5 per cent, impacted by a slump in manufacturing output, which contracted by 1 per cent.

The economic growth has moderated from the 5 per cent rate in April-June quarter of this fiscal and 7 per cent in July-September quarter of 2018.

More details awaited.

Edited by Manoj Sharma

Also read: Finance Minister Sitharaman launches 'eBkray' auction platform for assets attached by banks

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