A day after Prime Minister Narendra Modi unveiled the long-awaited economic stimulus package, Finance Minister Nirmala Sitharaman on Wednesday released the details of the financial stimulus.
As hinted by the prime minister, the fiscal stimulus has tried to include land, labour, liquidity and law under its ambit.
After PM Modi unveiled the Rs 20 lakh crore economic stimulus package on Tuesday, comparisons were drawn with the UK's 30-billion-pound fiscal stimulus that had dished out big chunks to the labour market and the healthcare system and was followed by another 330 billion pound guaranteed loans to businesses. The UK's package had included paying wages for the firms and MSMEs (Micro, Small and Medium Enterprises) that retained their labour force.
The Rs 20 lakh crore package--which also includes the 1.7 lakh crore package announced in March--was a tenth of the nation's GDP and will provide a fresh boost for a "self-reliant India", the prime minister said on Tuesday.
