New Delhi, May 14: Union Finance Minister will address the media for the second day today to share more details of the economic package. The announcement of the package was done by Prime Minister Narendra Modi under Atma Nirbhar Bharat Abhiyan. The Finance Minister will be sharing more details about the mega economic stimulus to revive, reform and make the country self-reliant, and welcoming foreign capital and strengthening of supply chains at the same time. On May 12, the Prime Minister had announced a total stimulus of Rs 20 lakh crore, or 10 per cent of the country's GDP. COVID-19 Live Tracker: Map The Spread of Coronavirus in All Parts of India and World.

On Wednesday, Sitharaman rolled out 15 new and some enhanced measures to revive businesses, and support workers via fiscal incentives. In her address on May 13, the Finance Minister announced the slew of fiscal and regulatory measures for MSMEs, real estate, NBFCs, power distribution and general businesses and workers. Nirmala Sitharaman Speech: Full Text And Details of Atmanirbhar Bharat Financial Package Worth Rs 20 Lakh Crore in PDF.

Watch Nirmala Sitharaman's Speech Live Day 2: 

In the Finance Ministry's first address on May 13, Sitharaman said the Centre has decided to give a new definition to MSMEs which will denote the type of companies that will be included in the sector. In terms of takeaways, the biggest were for the MSME sector which is considered to be the backbone of economic activity. The Centre also decided to reduce the TDS (tax deduction at source) rates for non-salaried specified payments made to residents, and the TCS (tax collection at source) rates by 25 per cent for the specified receipts.

(The above story first appeared on LatestLY on May 14, 2020 03:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).