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FM Sitharaman press conference: Here is what different sectors are expecting

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India Inc will closely watch Finance Minister Nirmala Sitharaman's announcements on May 13.

Sitharaman will address a press conference at 4 pm providing further information on the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on May 12.

PM Modi said the economic measures earlier announced by the government to tackle the COVID-19 pandemic, steps taken by the Reserve Bank of India (RBI), and the latest package would come up to a total of Rs 20 lakh crore, nearly 10 percent of India's gross domestic product (GDP).

PM Modi hinted that there might be some measures announced for a large number of sectors.

>> Sectors such as auto and real estate will be looking at resumption of manufacturing and construction, and measures that could help push consumer demand.

Sales of commercial vehicles (CVs) and houses have plunged since the lockdown began on March 25.

>> The power sector, too, has seen a sharp drop in demand during the lockdown and is hoping for measures that could help revive demand and stem losses.

>> Ecommerce companies, which are yet to resume non-essential services in red zones, may see some announcements in this regard.

Online marketplaces were initially allowed to provide only essential items and services during the lockdown. They are now permitted to provide non-essential services as well in orange and green zones.

>> The aviation sector might look for any word on the resumption of commercial flights, which have been suspended since March 25.

This sector is looking out for announcements that could help them deal with the revenue loss faced during the lockdown.