India's Finance Minister Nirmala Sitharaman has announced a slew of economic measures to fight COVID-19 under the Aatmanirbhar Bharat Abhiyan. What does it mean for you and me? Will we see the benefits of the Rs 20 lakh crore relief announced by PM Narendra Modi?
According to Sunil Jain, Managing Editor, Financial Express, only about 10% of the relief amount will come from government coffers. Vivek Kaul, Economic Commentator & Author, has pointed out that the fiscal stimulus part is only 1% of the GDP which is about INR 2 lakh crore. The stimulus, with everything added, is about INR 15-16 lakh crore and not INR 20 lakh crore as claimed.
Is this a good enough package to look after everyone's needs after considering our fiscally fragile situation? As of now, there is nothing more anyone could have done, according to both the experts. Sunil Jain and Vivek Kaul unpack what the economic response entails in this interview with Govindraj Ethiraj.