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On Thursday, Union Finance Minister Nirmala Sitharaman to give a speech in New Delhi at 12.30 pm. She would discuss about what measures would the Government take to boost the Indian Economy.

Highlights

• Currently, coronavirus related restrictions have reduced and the Government aims at providing stimulus to improve the economy.
• To improve demand and provide employment opportunities, the government is likely to announce a Rs 3 lakh crore stimulus for the stressed sectors such as tourism, hospitality and aviation.

On Wednesday, the Production Linked Incentives on the following were approved by the Cabinet

• More than Rs 1.45 lakh crore production-linked incentives for manufacturers in 10 sectors, automobiles, pharmaceuticals, white goods and textiles to attract big investment.

Among these, the biggest share was for the automakers and auto components at Rs 57,042 crore and battery manufacturing at Rs 18,100 crore.

Modi approved the PLI scheme considering its importance in boosting India’s competitiveness by focusing on 'Atmanirbhar Bharat' (self-reliant India). 

He tweeted, "Cabinet decision of PLI scheme for 10 sectors will boost manufacturing, give opportunities to youth while making India a preferred investment destination."

By Neha Makhija