Finance Minister Nirmala Sitharaman will be addressing media at 4 pm today as she is expected to give further details on Rs 20 lakh crore economic stimulius package announced by PM Modi during his Tuesday's televised address to the nation. The finance minister will address presser at National Media Centre. It will be for the second consecutive day when the finance minister will provide details on the tranche of government's relief package for businesses including various sectors in wake of coronavirus outbreak.

Earlier on Wednesday, Finance Minister Sitharaman laid out details of Modi government's Rs 20 lakh crore economic stimulus package which included Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies; Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.

Among various other announcements, the fiinance minister said government has decided to reduce EPF contribution for businesses, workers for a period of 3 months in order to provide more take home salary and to give relief to employers in payment of PF.

The nation has been under lockdown since March 24 in order to contain the spread of COVID-19, however, the lockdown has affected businesses across industries throughout the country as factories, manufacturing units, shops, malls, restaurants, have been shut. So far since March 24, lockdown in the country have been extended two times and is expected to be further extended for some more period once it ends on May 17. 

The Prime Minister in his Tuesday's address had informed about further extention of lockdown to be called lockdown 4.0 addeding it will be completely different from earlier versions of the lockdown details of which will be shared with the public before May 18.