Skip to main content

Modi government's relief package to fight Corona one of the world's largest package

some announcements
The Government of India relief package is one of the world's largest in the direction of fighting the Corona epidemic.
The Government of India's relief package is one of the world's largest in the direction of fighting the Corona epidemic. Prime Minister Narendra Modi said on Tuesday that the government will give a total package of 20 lakh crore rupees, including the package announced by the Finance Ministry and the Reserve Bank. It is a relief package equivalent to 10 percent of the country's GDP. So far, the US has announced a package of 11 percent of its GDP and Japan more than 20 percent.

Government of India has already made some announcements

 The package announced by the Government of India includes a package of Rs 1.7 lakh crore announced for providing food grains to the poor and cash assistance to poor women and the elderly and announcements made by the Reserve Bank. The Prime Minister has said that this special package will help in moving towards making the country self-reliant. The lockdown has been underway in the country since March 25 to slow the spread of Corona. Due to this, the wheel of most of the activities is stuck. The third phase of the lockdown is currently underway with some discounts, which will be completed on 17 May. Even after this, PM has said that the lockdown will continue with some additional discounts. In such a situation, it is necessary that the economy is facing this crisis.

Trying to revive the economy and increase demand

According to various estimates, in the current situation, the country's economic growth rate may go down by one percent or even less. In the circumstances caused by Corona, market demand has been badly affected and more than 120 million people are estimated to have lost their jobs. In such a situation, the government will try to revive the economy and increase demand with the help of this package. The huge relief package announced by PM, seems to fulfill the expectations of the industry. So far, a relief package of up to Rs 15 lakh crore has been demanded by the industry.

Know the condition of other countries

After Japan and the United States, Sweden has declared 12 percent of GDP, Germany has announced a relief package of 10.7 percent. India is followed by a relief package of France 9.3 percent, Spain 7.3 percent, Italy 5.7 percent, Britain 5 percent, China 3.8 percent, and South Korea 2.2 percent.
Labels:

Comments

Post a Comment

Popular posts from this blog

PAC will examine all aspects of the steps taken by the Center to deal with the Covid-19 crisis

A 22-member committee led by Congress leader Adhir Ranjan in the Lok Sabha can summon the Indian Medical Research Council (ICMR) director general and other top government officials. New Delhi The Public Accounts Committee (PAC) of Parliament will examine all aspects of the steps taken by the Center in dealing with the Covid-19 crisis. Committee chairman Adhir Ranjan Chowdhury said on Tuesday that the Reserve Bank Governor could be called to assess the economic impact of the nationwide lockdown and the unemployment it has caused. A 22-member committee headed by Congress leader Adhir Ranjan in the Lok Sabha can also summon the Director General of Indian Council of Medical Research (ICMR) and other top government officials . He said the committee should comprehensively examine the Centre's actions and approach to deal with the Covid-19 crisis. Both the health and economic aspects of this epidemic will be studied. Adhir Ranjan said that we will definitely evaluate the governme...
Post a Comment
Read more

World Coronavirus Updates: Two lakh 32 thousand cases in Russia and more than 31 thousand cases in Pakistan

World Coronavirus Updates: Two lakh 32 thousand cases in Russia and more than 31 thousand cases in Pakistan Washington, agencies. Russia on Tuesday reported 10,899 new cases of corona virus (COVID-19) and 107 deaths in the last 24 hours. So far, 2,32,243 cases have been reported in the country. According to the news agency Reuters, it has once again reached the third position in the list of countries with the highest number of cases in the world. Russia has overtaken Britain in this matter. So far 2,116 people have died in the country. So far 58 lakh (5.8 million) tests have been conducted in the country. Rapidly increasing cases of corona virus (COVID-19) in Pakistan. There have been 1,140 new cases in the country and 39 people have died. With this, the number of patients has increased to 31,674 and 706 people have died. 8,555 have also been cured. So far, 30,58,851 tests have been conducted in the country LIVE World Coronavirus Updates:  Corona virus has spread...
Post a Comment
Read more