Where did the Rs 20 lakh crore go? FM answers
- Earlier measures: Rs 1,92,000 crore
- Tranche 1: Rs 5,94,550 crore
- Tranche 2: Rs 3,10,000 crore
- Tranche 3: Rs 1,50,000 crore
- Tranche 4+5: Rs 48,100 crore
- RBI measures: Rs 8,01,603 crore
Total: 20,97,053 crores
On the live streaming, our FM, Nirmala Sitharaman launches the last breakdown of the Rs. 20 Lakh package that was announced by PM Modi.
To improve the livelihood of the poor merchandises, small businesses and medium enterprises, the Modi government (MGNREGA) was hiked by Rs. 40,000 crores. Further, Sitharaman announced that public sector enterprises or PSUs will exit non-strategic areas and private companies will have open gateways to all sectors.
She has withered out all the purposes of the tranche money and the sectors they will go to. Rs. 20 lakh crores include liquidity measures of Rs. 8 lakh crores as announced by RBI & the PM Gareeb Kalyan Yojna.
FM on economic outlook:
She said, “I want to tell the Opposition party that on the issue to migrants we all must work together. We are working with all states on this issue. With folded hands, I ask Sonia Gandhi ji that we must speak & deal with our migrants more responsibly.”.
She added, that the suggestions were taken from everywhere and carried out the best possible alternative to the country’s economic space. Besides the rising calamity, and uncertainty of the future, the country would require an uninterrupted supply of power.
Sitharaman lashes at the never-ending criticism of Rahul Gandhi’s rustic chats saying, “Is this not drama?”; “let all the congress ruled state governments get more trains to bring more migrant labourers.”, she added.
The migrants concern:
The reports brought the transparency of the co-operative states for the movement of migrants through trains.
Following which the “The definition of “COVID-related debt” will be announced soon in a notification:” she added. Further, I have not announced anything on bank mergers, Sitharaman explicitly sheds light on it.
The last tranche breakdown: 20Lakh crores.
- -RBI measures of ₹801,603 included in ₹20 lakh crore economic package
- -Total stimulus package is worth ₹20,97,053 crore
- -Fourth and fifth tranche is worth ₹48,100 crore
- -Stimulus measures announced in third part: ₹5 lakh crore
- -Second tranche was worth ₹310,000 crore
- -Economic package tranche 1 was worth ₹594,500 crore
- -Stimulus measures from earlier announcements was worth ₹192,800 crore: Sitharaman
- -Revenue loss due to tax concession: ₹7,800 crore
- -This will give states extra resources of ₹28 lakh crore: FM
The central government has decided to acknowledge the request and increase the lending limits from 3% to 5% for 2020-21.