‘Package way short of Rs 20 lakh crore pledged by PM’

NEW DELHI: Congress said the coronavirus economic stimulus announced by Modi government is less than 1.8% of GDP and way short of the Rs 20 lakh crore “dramatically announced by the PM”, calling it inadequate to address the economic crisis wrought by the pandemic.
Former Union minister and AICC spokesman Anand Sharma said, “The stimulus part of the package comes to hardly Rs 3.22 lakh crore, which is less than 1.8% of GDP and not 10% of GDP as the PM had announced. I challenge the FM to contradict my statement.”
Sharma argued the Centre’s relief package was hardly a stimulus as it was replete with provisions for loans which do not amount to financial support. “The relief package shows that Modi government has no solution to the crisis following the pandemic,” he said, reiterating the Congress demand for direct cash support for poor, farmers and MSMEs.