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The economic package announced by Prime Minister Narendra Modi in addressing the nation on Tuesday to help small businesses overcome the coronavirus crisis, is almost equal to Pakistan’s gross domestic product (GDP).
The size of India’s financial package is $ 266 billion, or 10 percent of its gross domestic product (GDP). After the coronavirus crisis, Pakistan’s GDP has been affected and its size is estimated at $ 284 billion, according to the World Bank.
In fact, India’s financial aid package for Covid-19 is larger than Vietnam, Portugal, Greece, New Zealand, and Romania.
The Bharatiya Janata Party (BJP) has praised the announcement made by Prime Minister Narendra Modi, saying the 20-rupee lakh package “is the largest package India has ever seen.”
Thanking Prime Minister Modi for announcing the economic aid package, BJP President JP Nadda said this represents around 10 percent of GDP and that the Prime Minister’s proactive approach will build a self-sufficient India.
Japan’s fiscal support accounts for more than 20 percent of GDP, while Singapore, Hong Kong and Australia have deployed spending of 10 percent or more of GDP, according to Bloomberg.
Addressing the nation on Tuesday, Prime Minister Modi also said that the next stage of the blockade, which will be lifted on May 18 after being extended twice, “will be different in many ways.”
“It will be based on suggestions received from states,” he said, adding that an announcement will also be made in the coming days.
“Corona will be part of life for a long time. But we cannot allow our lives to revolve around the crown crisis. “
In addition to some relaxations for industry and agriculture last month, this week’s offices were able to operate with a third of capacity, while the country’s massive rail network restarted on Tuesday with limited services.
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