Sitharaman to announce fifth and final tranche of economic package at 11 am today

Union Finance Minister Nirmala Sitharaman is scheduled to address the media at 11 am on Sunday (May 17) in the fifth and final phase of announcements on Rs 20 lakh crore package economic package to boost the coronavirus COVID-19-hit economy.

The Finance Minister on Saturday said that the central government will introduce competition, transparency and private sector participation in the coal sector and will do infrastructure development of Rs 50,000 crore.

Earlier on Friday, Sitharaman announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) under the Rs 20 lakh crore stimulus package.

She also proposed amendments to the Essential Commodities Act to enable better price realisation for farmers and said no stock limit should apply to processors or value chain participants.

On Thursday, the Finance Minister announced the 'One Nation One Ration Card', free food grain supply to migrants and creation of affordable rental housing complexes (ARHC) in urban areas for migrant workers and poor under the COVID-19 stimulus package.

The announcements came after the Prime Minister on Tuesday announced the economic package for the country to become 'self-reliant' and deal with COVID-19 crisis.