FM Press Conference Today: Update of news related to press conference of Finance Minister Nirmala Sitharaman
Finance Minister Press Conference Today:
Finance Minister Nirmala Sitharaman is going to press conference today at 12:30 pm. It is believed that after Kovid 19, she will give information about the economic situation of the country. Apart from this, she can also make some big announcements to give relief to the common man. Recently, there were reports from government sources, that the government may soon announce another relief package to reduce the impact of Kovid 19. In such a situation, speculations are being made that today the Finance Minister can also give information about this.
Let me tell you that during the Corona period, the Central Government announced a huge relief package. The Prime Minister’s Poor Welfare Package (PMGKP) was announced on 16 March and then the Self-Reliant India Package. At the same time, the RBI has cut the repo rate by 115 basis points to give Rohat to the common man and increase the liquidity. RBI’s stance in interest rates is still soft. It can be reduced further if needed.
Signs of recovery in the economy
After the RBI monetary policy, Shaktikanta Das said that it is expected that in the last and fourth quarter of the current financial year January-March 2021, GDP growth can be seen positive. The RBI has estimated that there may be little improvement in GDP growth in the July-September quarter. The MPC also hoped that after October GDP growth will be seen. However, it is estimated that in FY21 real GDP growth may decline by 9.5 per cent.
Announcing the monetary policy, RBI Governor Shaktikanta Das said that now the focus of RBI is more on revival after Kovid. He says that the recent economic data are showing good signs.
Rural demand increased
This time a record production of Kharif crops is expected. The monsoon has been better. The outlook for Rabi crops is looking better. He said that demand is increasing from rural areas. There are also strong signs of recovery in the global economy. Recovery has been seen in many countries in manufacturing, retail sales. Consumption, export has also shown improvement in many countries.
Work is being done on all possibilities
Recently, the government made some reforms to support the economy. Among these, the government’s special focus has been on agricultural reform. Apart from this, corporate tax cuts and land reforms are also included in this. The Finance Ministry says that the government is working on all possibilities to reduce the impact of corona on the economy and improve the livelihood of the people. The economy is beginning to recover after the lockdown of the Corona crisis was opened in a phased manner. The impact of the commencement of business activities is now visible.