FM's Diwali gift: Rs 1.2-trn stimulus package to boost growth, create jobs

This stimulus comprises production-linked incentives approved by the Cabinet on Wednesday for as many as 10 sectors

Ahead of Diwali, Union Finance Minister Nirmala Sitharaman on Thursday rolled out 12 measures as the Atmanirbhar Bharat 3.0 stimulus package to boost the economy. 

She announced a package worth Rs 1.2 trillion. If Wednesday’s production -linked incentive package is added, the stimulus comes to Rs 2.65 trillion.

Some measures include a credit guarantee support scheme for medium and small businesses across 26 stressed sectors with a specific call-out for the health care sector; employment generation in both formal and informal segments; tax relief for real estate developers and home buyers; ease of doing business by relaxing criteria of locking