Highlights of the economic package

Following are the highlights of the mega-stimulus package announced by the government to boost the economy:

• Additional plan expenditure of up to Rs 20,000 crore (Rs 200 billion)
• Excise duty reduced across the board by 4 per cent.
• IIFCL authorised to raise Rs 10,000 crore (Rs 100 billion)  via tax-free bonds.
• PSU banks to announce package for borrowers of home loans.
• Rs 350 crore (Rs 3.50 billion) additional funds for export incentives.
• Back-up guarantee to ECGC for up to Rs 350 crore.
• 2 per cent interest subvention for labour-intensive
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