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Nirmala Sitharaman is expected to announce further relief measures

According to Press Information Bureau’s (PIB) twitter, Sitharaman will address a press conference at 2.30 pm from the National Media Centre in New Delhi.

In the event, the Union Minister is expected to make announcement focusing upon boosting the realty and export sectors, the CNBC has reported, quoting sources. She is likely to announce sector-specific solutions as well as broad-based relief measures, it said.

According to the report, Finance ministry officials made a detailed presentation of the measures to be announced to the Prime Minister’s office on September 13. The current round of measures have convinced the PMO, which feels that the measures will boost sentiment and current economic situation, the report added.

The economic growth hit a six-year low of 5 percent for the first quarter of the current fiscal and the government has announced a slew of measures to reinvigorate the sagging growth.

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In recent weeks, the government has announced a slew of economic measures including the mega bank mergers, withdrawal of higher surcharge on Foreign portfolio investments (FPIs) and domestic investors, sops for infrastructure, revival package for the auto industry and relief for startups.

Another major event to watch out for is the GST Council meeting next week in Goa. The Centre is expected to announce the Goods and Services Tax (GST) rate for the auto beleaguered industry from the highest tax slab of 28 percent to 18 percent.

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