New Delhi: Prime Minister Narendra Modi's pledge of a total spending of ₹20 lakh crore to weather the fallout of coronavirus pandemic is among the largest economic stimulus package announced by nations around the world.
Modi's Atma-nirbhar Bharat Abhiyan or Self-reliant India Mission is about 10 per cent of India's GDP in 2019-20 and would rank behind Japan, the US, Sweden, Australia and Germany.
But unlike the most relief packages announced globally, ₹20 lakh crore is not entirely in new spending and includes ₹1.7 lakh crore package the government had announced in March as well as the steps taken by the Reserve Bank of India (RBI) such as liquidity enhancing measures and interest rate cuts.
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