The government and the Reserve Bank of India have together announced stimulus measures worth Rs 29,87,641 crore or 15% of the country’s Gross Domestic Product to revive the economy which has been hit hard by the restrictions induced by COVID-19, said Finance Minister Nirmala Sitharaman. by announcing stimulus measures under Atmanirbhar Bharat Abhiyaan 3.0.
Given the breakdown of the various stimulus packages announced by the government, Ms Sitharaman said that the relief of Rs 1,92,800 crore was provided under the Pradhan Mantri Garib Kalyan Package, Rs 11,02,650 crore was provided under Atmanirbhar Bharat Abhiyaan 1.0 , Rs 82,911 crore was provided under the Pradhan Mantri Garib Kalyan Anna Yojana package – five month extension from July to November, Rs 73,000 crore was provided under Atmanirbhar Bharat Abhiyaan 2.0 and Rs 2,65,080 crore were provided under Atmanirbhar Bharat Abhiyaan 3.0 for a total of Rs 17.19 lakh crore.
| Article | Amount (in crore rupees) |
|---|---|
| Pradhan Mantri Garib Kalyan Package | 192,800 |
| Atmanirbharat Bharat Abhiyaan 1.0 | 1,102,650 |
| PMGKP Anna Yojana – five month extension from July to November | 82,911 |
| Atmanirbhar Bharat Abhiyaan 2.0 (October 12) | 73,000 |
| Subtotal | 1,719,441 |
| Atmanirbhar Bharat 3.0 | 265,080 |
| Promoted measures | 1,271,200 |
| Total | 2,987,641 |
| (Source: Ministry of Finance) | |
Stimulus measures from the Reserve Bank of India amount to Rs 12,71,200 crore, the presentation from the Ministry of Finance showed.
Meanwhile, in today’s major announcements, the Finance Minister announced Atmanirbhar Bharta Rozgar Yojana, which will incentivize the creation of new jobs.
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