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If everything goes as planned, <a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi">Prime Minister Narendra Modi</a> is going to announce Rs 1 lakh-crore financial package for <a href="http://www.businessinsider.in/searchresult.cms?query=jammu+and+kashmir">Jammu &amp; Kashmir</a> on <a href="http://www.businessinsider.in/searchresult.cms?query=independence+day">Independence Day</a>. 
 
As per reports, the blueprint of the same is prepared and awaits a nod from the PM himself. 
 
The state government had expected the package to be announced around Eid last month. 
 
A person close to the matter told Economic Times that Union expenditure secretary Rattan P Wattal is in touch with the senior functionaries of the state government including the finance minister. 
 
J&amp;K finance minister Haseeb Drabu had earlier said that at least 12 meetings in Delhi were held to finalise the package. 
 
As per reports, Drabu had met Union <a href="http://www.businessinsider.in/searchresult.cms?query=arun+jaitley">Finance Minister Arun Jaitley</a> and senior bureaucrats in the Prime Minister's Office. 
 
Jammu and Kashmir expects the package to include a substantial component for the 2014 flood victims who are yet to receive any compensation. 
 
(Image: Reuters)

PM Modi’s Independence Day gift for  Jammu and Kashmir residents: Rs 1 lakh-crore financial aid

Kolkata, May 13 () West Bengal Finance ministerAmit Mitra on Wednesday accused the Centre of misleadingpeople over the announced Rs 20 lakh crore special package,saying that the actual dole is about 2 per cent of thecountry's GDP.In a big push to revive the economy, Prime MinisterNarendra Modi on Tuesday announced a Rs 20 lakh crore package,which combined the government's recent announcements onsupporting key sectors as also measures rolled out by theReserve Bank of India.About the financial package, the prime minister hadsaid it will be around 10 per cent of the GDP and will addressproblems of a wide range of sectors as well as difficulties ofmigrant workers."People must know the truth and the Centre's actualnew announcement is just Rs 4.2 lakh crore or 2 per cent ofGDP," Mitra said after Union Finance minister NirmalaSitharaman unveiled a major booster dose on Wednesday.Mitra said, the previous interventions by the Centralbank and the Union Finance ministry amounting to Rs 10 lakhcrore are included in the Rs 20 lakh crore package, believedto be a blockbuster stimulus.The RBI in four tranches since February 6, had infusedRs 8 lakh crore of liquidity into the financial system.Sitharaman had, earlier, announced a Rs 1.7 lakh croresupport."The government has set a borrowing limit of Rs 4.2lakh crore. Thus the real package is of Rs 4.2 lakh crore,which is 2 per cent of the GDP," he added. BSM SCHMM MM

Centre's spl package actually 2pc of GDP: Bengal FM Amit Mitra

Mumbai, May 13 () Equity benchmark BSE Sensex zoomed 637 points on Wednesday, driven by gains in banking stocks ahead of Finance Minister Nirmala Sitharaman's press conference to unveil provisions of the Rs 20 lakh crore stimulus package announced by the government. Prime Minister Narendra Modi's announcement of the massive economic stimulus to revive the coronavirus-hit economy boosted domestic investor sentiment, traders said. After rallying 1,474.36 points during the day, the 30-share index surrendered some early gains to settle 637.49 points or 2.03 per cent higher at 32,008.61. Similarly, the NSE Nifty jumped 187 points, or 2.03 per cent, to finish at 9,383.55. Axis Bank was the top gainer in the Sensex pack, surging around 7 per cent, followed by Ultratech Cement, L&amp;T, ICICI Bank, SBI, M&amp;M and Bajaj Finance. On the other hand, Nestle India, Sun Pharma, Bharti Airtel and HUL ended in the red. The Prime Minister on Tuesday announced a massive new financial package on top of the previously announced measures for a combined stimulus of Rs 20 lakh crore. He said the package will be around 10 percent of the GDP and "will play an important role in the 'Atmanirbhar Bharat Abhiyan' (self-reliant India campaign)", adding that the "announcements made by the government so far, the decisions of the RBI and today's package totals to Rs 20 lakh crore." The special economic package will have emphasis on land, labour, liquidity and laws, and will be for "our labourers, farmers, honest tax payers, MSMEs and cottage industry", Modi said. On the currency front, the rupee appreciated by 5 paise to provisionally close at 75.46 against the US dollar. Meanwhile, bourses in Shanghai and Seoul ended with gains, while Hong Kong and Tokyo closed in the red. Stock exchanges in Europe started off with significant losses. International oil benchmark Brent crude futures slipped 1.30 per cent to USD 29.59 per barrel. ANS ABMABM

Sensex rallies 637 pts on govt stimulus boost; banking stocks soar

New Delhi, Mar 25 () All India Trade Union Congress (AITUC) on Wednesday demanded a Rs 5 lakh crore package from the central government to deal with COVID-19 outbreak, saying the Rs 15,000-crore package announced by Prime Minister Narendra Modi is a "meagre amount". "AITUC demands of Rs 500,000 crore package from the Central Government to meet this calamity," an AITUC statement said. "We at the AITUC while take the lockdown as necessary step as a preventive measure to stop the spread of Covid-19 infection, are extremely disappointed at very meagre amount of Rs 15000 crore allocated by the Prime Minister in his address to the nation on 24th March whereas for small state like Kerala announced Rs 20,000 crores package." The union demanded from Modi government to immediately come out with a clear policy and package to deal with all these issues at the earliest otherwise anxieties of no work and no food amongst masses will create problems in dealing with Covid 19 Pandemic. It said that the poor masses who are daily wagers / casual/ migrant/ agriculture workers or are self employeed as hawkers-vendors, those who are coolies/porters/loaders unloaders, domestic workers etc. are losing their livelihood in the lockdown/ curfew situation have been left in the lurch for nothing to bank upon. They need immediate financial relief, free ration and free fuel to cook food. In many cases for destitute food should be provided from state-run outlets. This requires a big economic package from the government, it suggested. "The Finance Minister was only busy in announcing an increase in deadlines for filing IT returns, GST, about TDS or the cases under bankruptcy act etc. but no announcement for the 40 crores (informal sector workers) out of about 54 crores of working people who are looking towards the incumbent government for help," it said. It was of the view that the government has to immediately increase the financial package for health to tackle emergent needs of medical fraternity and the expansion of health infrastructure. It noted that the dire need of the country is for testing and provision of all-out medical help to all those infected cases. A warlike preparation is needed for the provision of ventilators, masks, increased bed capacity, availability of medicines, maintenance of hygiene etc. The front soldiers in the case of medical help are our doctors, nurses, other para-medical staff and cleaning staff etc. who need to be taken care of. But it is they who are being neglected and not fully equipped as the requests and complaints from them including from AIIMS Resident Doctors Association are all in open for all to see, it said. "We deplore that the government of India allowed export of all these required equipment in fighting Covid-19 till 19th March 2020 despite WHO guidelines to stop it at the beginning of February itself," it added. The harassment of doctors, nurses etc to vacate residential premises is a most shameful act which must be taken cognizance of by the concerned authorities and the guilty be booked to give a clear signal to the society, it said. The workers and employees of the permitted essential services by the government are not being allowed to commute the workplaces by police in many areas despite they have ID (identity) proofs provided by the government departments and public sector offices, it stated. KKS KKS MRMR

AITUC demands Rs five lakh Cr package to deal with COVID-19 from Central Govt

Equity benchmark <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> rallied over 1,400 points in opening session on Wednesday as <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-narendra-modi">Prime Minister Narendra Modi</keyword>'s Rs 20 lakh crore stimulus package to revive the coronavirus-hit economy boosted domestic investor sentiment. After touching a high of 32,845.48, the 30-share index pared some early gains to trade 818.68 points or 2.61 per cent higher at 32,189.80. Similarly, NSE Nifty soared 213.50 points, or 2.32 per cent, to 9,410.05. ICICI Bank was the top gainer in the Sensex pack, surging around 7 per cent, followed by L&amp;T, Axis Bank, Bajaj Finance, Hero MotoCorp, M&amp;M, UltraTech Cement and Maruti. On the other hand, <keyword id="6356830" type="ORGANIZATION" weightage="20" keywordseo="nestle-india">Nestle India</keyword>, <keyword id="6354287" type="UNKNOWN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>, <keyword id="44642" type="CITY" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword> and <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> were trading in the red. In the previous session, the BSE barometer settled 190.10 points or 0.60 per cent lower at 31,371.12, and broader Nifty declined 42.65 points, or 0.46 per cent, to 9,196.55. Foreign portfolio investors offloaded equities worth Rs 1,662.03 crore in the capital market on Tuesday, provisional exchange data showed. According to analysts, domestic investors cheered the government's massive stimulus package to revive the pandemic-stricken economy. The Prime Minister on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore. He said the package will be around 10 per cent of the GDP and "will play an important role in the 'Atmanirbhar Bharat Abhiyan' (self-reliant India campaign). The special economic package will have emphasis on land, labour, liquidity and laws, and will be for "our labourers, farmers, honest tax payers, MSMEs and cottage industry", Modi said. Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with losses as fears of a second wave of coronavirus infections gripped global markets. On Wall Street, stock exchanges settled on a negative note. International oil benchmark Brent crude futures were trading 1.53 per cent lower at USD 29.52 per barrel. In India, the death toll due to COVID-19 rose to 2,415 and the number of cases climbed to 74,281, according to the health ministry. Globally, the number of cases linked to the disease has crossed 42.61 lakh and the death toll has topped 2.91 lakh. SEE ALSO: <a href="https://www.businessinsider.in/india/news/how-corporate-india-reacted-to-modis-stimulus-package/articleshow/75692607.cms">This is how corporate India reacted to Modi’s stimulus package</a> <a href="https://www.businessinsider.in/business/corporates/maruti-suzuki-share-price-investors-expect-sales-and-margin-to-shrink/articleshow/75708285.cms">Maruti Suzuki saw a sales decline of 16% in Jan-March⁠— investors wait to see the margin squeeze</a> <a href="https://www.businessinsider.in/finance/news/kotak-mahindra-bank-earnings-and-share-price-expectation/articleshow/75707938.cms">Kotak Mahindra Bank's earnings may reflect the pain in India’s auto sector as well as the rising job losses and pay cuts</a>

You Searched For "modi financial package" and got 5 results

PM Modi’s Independence Day gift for Jammu and Kashmir residents: Rs 1 lakh-crore financial aid

BI India Bureau

Centre's spl package actually 2pc of GDP: Bengal FM Amit Mitra

PTI

Sensex rallies 637 pts on govt stimulus boost; banking stocks soar

PTI

AITUC demands Rs five lakh Cr package to deal with COVID-19 from Central Govt

PTI

Modi's stimulus package gets Indian markets excited — Sensex zooms over 1,400 points

PTI

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