New Delhi: Finance Minister Nirmala Sitaraman on Thursday announced a fresh set of measures, involving an estimated outgo of Rs. 1.2 lakh crores, to boost demand, help create jobs, augment infrastructure and ensure growth is back on track.

Speaking to the media persons in press conference, she pegged the value of the package at Rs. 2.65 lakh crores, including the nearly Rs. 1.5 lakh crores production-linked incentives for ten sectors that was cleared by the Union Cabinet on Wednesday. The PLI scheme is spread over five years, while several of the announcements made on Thursday, such as enhanced allocation for fertilizer subsidy and PM Awas Yogana in Urban areas will see spending during the current financial year itself.

This is departure from the past when the Government was accused of providing little by way of budgetary support and instead piggy backing banks and other intermediaries to deliver the goods during the pandemic. The Centre and RBI have together provided a stimulus of Rs. 29.9 lakh crores since the lock down in March end, said the Finance Minister. Today’s Atma Nirbhar Bharat package continues our efforts to help all sections of society. These initiatives will help in creating jobs, alleviate stressed sectors, ensure liquidity, boost manufacturing, energies real estate sector and support farmers, said PM Modi in his twitter.