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FM Nirmala Sitharaman to address media today; list actions of 100 days of Modi 2.0

She will address media on "Furthering Development -- 100 days of bold initiatives, decisive actions of the government" at 2pm.

FM Nirmala Sitharaman to address media today; list actions of 100 days of Modi 2.0

New Delhi: Finance Minister Nirmala Sitharaman will address the media on Tuesday to list out the decisions and initiatives taken by the Modi 2.0 government on the first 100 days in office.

She will address media on "Furthering Development -- 100 days of bold initiatives, decisive actions of the government" at 2pm.

 

 

This will be Sitharaman's third address to the press after presentation of the Union Budget. Her press conference comes at a time when the economic is passing through a phase of slowdown with Q1 GDP growth falling to a six-year low of 5 percent and auto sales showing dismal figures.

Sitharaman in her previous two press conferences had announced withdrawal of enhanced surcharge on Foreign Portfolio Investments (FPIs), that was revealed during presentation of Union Budget 2019.

In the following address to media she announced the merger of 10 Public Sector Banks (PSBs) into four entities.

Sitharaman said Punjab National Bank, Oriental Bank and United Bank will be merged to become the second largest PSU Bank in India. Canara Bank and Syndicate Bank will be merged into one entity to be 4th largest PSB, while Union Bank of India, Andhra Bank and Corporation Bank will be amalgamated into a single entity to be the 5th largest PSB; and Indian Bank and Allahabad Bank will become one entity to be the 7th largest PSB.

Last Saturday, Union Minister Prakash Javadekar on Sunday addressed a press conference on the completion of 100 days of the second term of Prime Minister Narendra Modi-led government.

He stressed that biggest decision taken in last 100 days was the abrogation of Article 370,35A and formation of Union Territory of Jammu & Kashmir and Ladakh.

Among other decisions taken by Modi 2.0 were changes in Income Tax and GST; steps taken on corruption; farmers compensation; ban on Triple Talaq and many more.