Breaking: Stimulus 4.0? FM Nirmala Sitharaman to hold presser at 12.30pm today

Union Finance Minister Nirmala Sitharaman will address a press conference at 12.30 pm today. The presser comes amid wide speculations that the government will announce another mega stimulus worth $20 billion to help the key sectors badly affected due to coronavirus.

Also read: Diwali stimulus! Centre may announce benefits worth $20 billion for stressed sectors

The presser will be held after Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and other top officials will give the final go-ahead to the fourth mega stimulus plan.

Also read: Next set of economic stimulus soon, sectors send suggestions to FinMin

The presser comes a day after the Union Cabinet gave its approval to the Production Linked Incentives (PLI) scheme for 10 sectors, under which businesses will get incentives worth over Rs 2 lakh crore in 5 years.

The PLI scheme intends to enhance India's manufacturing capabilities and exports. "It will make Indian manufacturers globally competitive, attract investment and enhance exports," said Union Minister Prakash Javadekar.

Also read: Cabinet approves PLI scheme worth Rs 2 lakh crore for 10 key sectors for next 5 years