About the financial package, the PM said it will be around 10 per cent of the GDP and will address problems of a wide range of sectors as well as difficulties of migrant workers.
- Last Updated: May 13, 2020, 10:14 PM IST
West Bengal Finance minister Amit Mitra on Wednesday accused the Centre of misleading people over the announced Rs 20 lakh crore special package, saying that the actual dole is about 2 per cent of the country’s GDP.
In a big push to revive the economy, Prime Min ister Narendra Modi on Tuesday announced a Rs 20 lakh crore package, which combined the government’s recent announcements on supporting key sectors as also measures rolled out by the Reserve Bank of India.
About the financial package, the prime minister had said it will be around 10 per cent of the GDP and will address problems of a wide range of sectors as well as difficulties of migrant workers.
“People must know the truth and the Centre’s actual new announcement is just Rs 4.2 lakh crore or 2 per cent of GDP,” Mitra said after Union Finance minister Nirmala
Sitharaman unveiled a major booster dose on Wednesday. Mitra said, the previous interventions by the Central bank and the Union Finance ministry amounting to Rs 10 lakh crore are included in the Rs 20 lakh crore package, believed to be a blockbuster stimulus.
The RBI in four tranches since February 6, had infused Rs 8 lakh crore of liquidity into the financial system. Sitharaman had, earlier, announced a Rs 1.7 lakh crore support.
“The government has set a borrowing limit of Rs 4.2 lakh crore. Thus the real package is of Rs 4.2 lakh crore, which is 2 per cent of the GDP,” he added.