Prime Minister Narendra Modi with Finance Minister Nirmala Sitharaman. (Express file photo)
Prime Minister Narendra Modi is learnt to have tasked an informal group of ministers (GoM) to monitor the implementation of the economic revival package announced by him last week, sources revealed on Monday.
The informal group chaired by Defence Minister Rajnath Singh comprise of top ministers in the government, starting from Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Railways and Commerce Minister Piyush Goyal and Civil Aviation Minister Hardeep Puri, sources added.
The group, in fact, sources confide is likely to start working at the earliest since the Finance Minister has already announced all the elements of the package through last week. Sources, in this context, did not rule out the possibility of meetings from today itself.
| Centre’s Fiscal Cost |
Amount in crore (Rupees)
|
| Pre-PM announcement | 1,08,495* |
| Tranche 1, FM Package | 25,500 |
| Tranche 2 | 5,000 |
| Tranche 3 | 30,000 |
| Tranche 4 | 8,100 |
| Tranche 5 | 40,000 |
| Total | 2,17,095 |
*includes PM Garib Kalyan Yojana, Rs 15,000 crore towards anti-Covid health and Rs 7,800 crore loss of revenue
The constitution of the informal GoM holds significance keeping in mind the government has already liberalised restrictions across the country under the fourth phase of the nationwide lockdown that came into force today.
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The Rs 20 lakh crore economic revival package, which comprises of liquidity measures announced by the Reserve Bank of India and Government’s schemes with some fiscal outgo, covers a wide variety of ministries and departments. The informal GoM can be a mechanism to keep an eye on roll out of each of those measures across different sectors.