Union Finance Minister Nirmala Sitharaman will address media at 12:30 pm on Thursday, where she is likely to announce a stimulus package.

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Meanwhile, the cabinet on Wednesday approved a proposal to provide production-linked incentives of about Rs 2 lakh crore ($27 billion) over five years to create jobs and boost manufacturing in the country.

The incentives, as FM said, will be given to manufacturers in 10 sectors including automobiles and auto parts, pharmaceuticals, textiles and food products to attract investment and enable India to become a part of the global supply chain.

Last week, Sitharaman said increased digitisation will help in making better assessment of the country’s economic growth and nudged tax practitioners to suggest their clients to shift towards digital modes of payments.

She said the government, irrespective of the party in power, tries to widen the tax net and at the same time, lower the tax burden in its pursuit of revenue collection, and tax practitioners can play a critical role in this by ensuring timely compliance by taxpayers.

(With inputs from PTI)

First Published:Nov 12, 2020 9:11 AM IST