In a big push to revive the economy, Prime MinisterNarendra Modi on Tuesday announced a Rs 20 lakh crore package,which combined the government's recent announcements onsupporting key sectors as also measures rolled out by theReserve Bank of India.
About the financial package, the prime minister hadsaid it will be around 10 per cent of the GDP and will addressproblems of a wide range of sectors as well as difficulties ofmigrant workers.
"People must know the truth and the Centre's actualnew announcement is just Rs 4.2 lakh crore or 2 per cent ofGDP," Mitra said after Union Finance minister NirmalaSitharaman unveiled a major booster dose on Wednesday.
Mitra said, the previous interventions by the Centralbank and the Union Finance ministry amounting to Rs 10 lakhcrore are included in the Rs 20 lakh crore package, believedto be a blockbuster stimulus.
The RBI in four tranches since February 6, had infusedRs 8 lakh crore of liquidity into the financial system.Sitharaman had, earlier, announced a Rs 1.7 lakh croresupport.
"The government has set a borrowing limit of Rs 4.2lakh crore. Thus the real package is of Rs 4.2 lakh crore,which is 2 per cent of the GDP," he added. BSM SCHMM MM