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economic package

Cong leader Chidambaram says Rs20 lakh cr package is 0.91% of GDP, ‘hopelessly inadequate’

Congress leader P Chidambaram on Monday called the government’s Rs 20 lakh crore economic package as hopelessly inadequate. He also asked for a revised and comprehensive package of 10% of the GDP. He said the package amounted to just Rs 1.86 crore, which is 0.91% of the GDP. The stimulus package was announced by Prime...

Sensex plunges over 1000 points over economic package disappointment

Sensex plunged by 1,068.75 points to close at 30,028.98 on Monday amid a sharp decline in banking and financial stocks. Media reports said the decline was a result of investors seeing the government measures to aid the economic recovery following the lockdown as inadequate. Hero MotoCorp, Housing Development Finance Corporation (HDFC), Axis Bank, State Bank...

Mamata Banerjee terms Centre’s economic package as “big zero”

West Bengal Chief Minister Mamata Banerjee on Wednesday slammed the central government, claiming the special economic package announced by it has nothing for states and is “a big zero”. Banerjee alleged the government was “misleading people” during the COVID-19 crisis. “The special economic package announced by the Union government is nothing but...

Cong calls Modi’s economic package a ‘headline grabbing exercise’

The Congress on Tuesday called Prime Minister Narendra Modi’s Rs20 lakh stimulus package a headline grabbing exercise. The BJP, meanwhile, called it the world’s largest holistic package. The Congress and the other opposition, mainly the communist parties, targeted the PM’s silence on the migrant issue during his address to the nation. The Congress called the...

Economic package: FM Nirmala Sitharaman to address media at 4

Details of the economic package announced by Prime Minister Narendra Modi on Tuesday will be shared by union Finance Minister Nirmala Sitharaman at a press meet at 4 pm on Wednesday. Modi, during his speech, had announced a special economic package of Rs20 lakh crore for the country. This he said was aimed at making...

What after May 17? Sonia Gandhi asks Centre about plan post lockdown

“What after May 17?” Sonia Gandhi has asked the Centre following a meeting held with chief ministers of state where Congress is in power. The Congress president wanted to know how the Centre planned to move ahead after the third phase of lockdown came to an end on May 17. She also questioned the government...

Centre announces Rs1.7 lakh crore relief package for coronavirus pandemic

Finance Minister Nirmana Sitharaman on Thursday announced an economic stimulus package to help the nation tackle the financial difficulties arising from coronavirus outbreak. Sitharaman said the economic relief package will focus primarily on migrant labourers and daily wage labourers. “A package is ready for the poor who need immediate help like migrant workers and...

Government extends I-T filing deadline till June 30

Government is also working swiftly to come up with an economic package and it will be announced soon, said Finance Minister Nirmala Sitharaman. However, no specific date was given. Finance Minister Nirmala Sitharaman on Tuesday announced that the government has increased the income tax filing deadline for the financial year 2018-19 to June 30, 2020....