'Welfare done', FM Sitharaman to focus on specific sectors over next 2 days

Officials said that the announcements will again be a mix of fiscal and liquidity measures, with more heft through the latter

Finance Minister Nirmala Sitharaman is expected to announce two more rounds of measures, on Saturday and Sunday. While there still could be a handful of welfare-related announcements, the focus will now firmly be on industries and sectors most affected by the Covid-19 pandemic and the nationwide lockdown, Business Standard has learnt.
 

Since Wednesday, Sitharaman has announced measures for migrants, urban and rural poor, farmers, agricultural sector, organised sector workforce, middle-income groups, and small businesses.

“The welfare part is mostly done. The focus will now be on sectors. We have announced some measures which cut across sectors, but the coming announcements will be sector-specific,” said an official who is part of the deliberations. Some of the sectors which have been the worst affected by the pandemic and the lockdown include hospitality, tourism, aviation, logistics, e-commerce, automobiles, manufacturing and others.

Officials said the announcements will again be a mix of fiscal and liquidity measures, with the latter making the bulk of it. There could also be administrative reforms like the ones related to agriculture laws on Friday.
 

“Some more structural measures and governance reforms are being planned. Some of the laws and rules which impact specific sectors could be amended,” the official said. “There will be some announcements related to direct spending. We will also look to ensure easier access to credit for the sectors which have been the most affected.”