Prime Minister Narendra Modi has announced a special economic package to give a boost to the country's economy lying down due to Corona virus.
Addressing the country, PM Modi said that this package will be about 20 lakh crore rupees, including the recent decision of the government, the Reserve Bank's announcements. It is about 10 percent of the country's GDP.
Prime Minister Modi said that with this package the economy will start running on track. Out of 20 lakh crore rupees, how much will be spent on which sector, Finance Minister Nirmala Sitharaman will announce it sequentially from today. The 20 lakh crore relief package announced by PM Narendra Modi is being described as the biggest package ever. This package will be around 10 percent of the country's GDP. PM Modi said, this package will help in connecting various sections of the country and economic links. This package will give a new impetus to the country's development journey in 2020, the self-reliant India campaign. But the question is, where will the money come from the government for this economic package? Let's understand
But the question is, where will the money come from the government for this economic package. Will the package amount honestly reach the poor, laborers and farmers at the end of the country in exactly the same way? This will be a big challenge. It seems that this package will be distributed to small scale industries and local businesses, so the major challenge here is that a large number of working class have returned from the cities to their homes, now this laborer is not in a position to work in the cities. So it is a big problem that a large part of this big package is going to the part of the industrialists who are already in good condition.
In the era of global crisis, many countries have announced similar special packages and announced huge relief packages for the economy. Among these countries, Japan ranks first, having budgeted 21 per cent of its GDP in the midst of the Corona crisis.
Let's look at which country has released a relief package of what percentage of its GDP.
Japan 21.1% America 11% Australia 9.9% Canada 8.4% Brazil 6.75% Germany 4.9% European Union 4% Argentina 3.5% Saudi Arabia 2.8% Russia 2.6% Indonesia 2.6% China 2.5% Turkey 1.5% Italy 1.4%
And India has announced the biggest relief package to make some improvements in the economic conditions in a country that is suffering from Corona at 10% per cent.
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