New Delhi: Amidst the corona virus epidemic, Prime Minister Narendra Modi on Tuesday announced an economic package of Rs 20 lakh crore while addressing the country. During his address, PM Modi had told about the financial package that this package will be around Rs 20 lakh crore, including the recent decision of the government and the announcements of the Reserve Bank.
According to the PM, this package is about 10 percent of the country’s GDP. Announcing the package, PM Modi said that it will play an important role in the campaign to make India self-reliant. The PM, however, did not mention in his address how much the government is going to give in reality. The PM said that in the next few days, Finance Minister Nirmala Sitharaman will give more detailed information in this regard.
PM Modi has talked about 20 lakh crore package in total. In such a situation, people are assuming that the government can declare Rs 13-14 lakh crore more. In fact, the RBI has so far announced an economic relief package of about Rs 4.74 lakh crore in two phases. At the same time, Finance Minister Nirmala Sitharaman had also announced a relief package of Rs 1.7 lakh, which is said to help the poor under the Garib Kalyan Yojana.
Let us tell you that on March 27, two days after the announcement of the lockdown, the Reserve Bank had announced several measures to increase the cash and announced a reduction in the repo rate by 75 basis points. Also, the CRR was reduced from 4 to 3 percent.
