Nirmala Sitharaman announces measures to boost economy: Govt's 20 Lakh economic package | Oneindia

Union Finance Minister Nirmala Sitharaman on Wednesday addressed the media and shared the details of the Rs 20 lakh crore Economic stimulus package that was announced by PM Modi on Tuesday to battle the Coronavirus Crisis.Finance Minister Nirmala Sitharaman today announced that the government will provide Rs 3 lakh crore collateral-free automatic loans for businesses, including SMEs.

Finance Minister Nirmala Sitharaman on Wednesday announced measures related to provident fund, which will result in a hike in take home salaries of employees across the board.

The announcement came as part of the first tranche of measures detailed upon, as a part of the Rs 20 lakh crore economic package that Prime Minister Narendra Modi announced on Tuesday.

All establishments under the Employees' Provident Fund Organisation (EPFO) will enjoy the benefits of this scheme.