Nirmala Sitharaman to share details of Modi's Rs. 20 lakh crore economic package at 4 pm

During his address to the nation at 8 pm on Tuesday, Modi said the package, which forms the country's 10 per cent of total Gross Domestic Product (GDP), is targetted for all sections of the society and will focus on land, labour, liquidity and law.

"The package will be for all farmers as well as middle class people who pay income tax with honesty," said the PM.

Earlier immediately after the commencement of the anti-Covid lockdown 1.0, Sitharaman along with her junior minister Anurag Thakur had unveiled a mega Rs. 1,70,000 crore for poor as well as the health workers who are coined as "frontline warriors".

India is presently going through the a massive, unprecedented anti-Covid-19 lockdown which has jeopardized the country's economy leading several people to stare at job losses.

Even before the Coronavirus outbreak, India's economy was struggling with its GDP falling in each quarter to settle at somewhere below 5 per cent, earning criticisms for the country's most popular leader Modi and his Bharatiya Janata Party (BJP) government.

A recent analysis by Moody's claimed India's GDP will become 0 per cent in the current fiscal year while the International Monetary Fund (IMF) has stated the South Asian country will grow at 1.9% recording the highest among the G20 countries even in the pandemic situation.

In a ray of hope, the IMF has claimed the country will have a big turnaround in the fiscal year 2021-2022.