Finance Minister Nirmala Sitharaman will address a press conference at 12.30 pm on Thursday, a day after the government approved a Rs 2 lakh crore production-linked incentive (PLI) package over five years for manufacturers in 10 sectors.
Sitharaman is expected to announce a third set of stimulus package to boost the coronavirus-hit economy, according to a LiveMint report.
Equity benchmark Sensex dropped over 200 points in early trade, tracking losses in financial stocks ahead of her press conference. The 30-share BSE index was trading 226.79 points or 0.52 percent lower at 43,366.88, while the broader NSE Nifty slipped 60 points or 0.47 percent to 12,689.15.
Sitharam said that the Cabinet decided to create more PLIs to make sure job creation happens and India becomes part of the global value chain and becomes self-reliant.
“We are ensuring that India will be part of the global value chain and the critical sunrise sectors get the necessary support from the government so that we are able to build an India which is strong enough to service its own domestic market. We are also making sure that we are able to link up with the global value chains,” she said.