Union finance minister Nirmala Sitharaman is set to announce further relief measures for the economy today at 2:30 pm to battle the current economic slowdown. North Block sources have told CNBC-TV18 that the focus of the announcements will be on boosting the realty and export sectors.
Finance ministry officials made a detailed presentation of the measures to be announced to the PMO on Friday. The Prime Minister’s office is convinced with the current round of measures and feels they will boost sentiment and current economic situation, according to sources.
The announcement on Saturday might cover other sectors as well as broad based relief measures are not ruled out.
It's noteworthy that the finance minister has been meeting industry captains and economists accross the nation to take stock of the situation. In two earlier instances she has announced merger of 10 public sector banks into four and withdrawn higher surcharge on FPIs and domestic investors.