New Delhi: Soon after Prime Minister Narendra Modi announced a package of Rs 20 lakh crore to mitigate the hardships of the Indian economy, social media was abuzz with the theory that the Atmanirbhar Bharat package actually, which is 10 per cent of India’s GDP, is actually higher than Pakistan’s total GDP. Also Read - Coronavirus: Should Delhi Hospitals be Reserved For Residents Only? 40% For, 60% Against CM Arvind Kejriwal's Idea
International comparison Also Read - Mohammed Shami Confident of Getting Reverse Swing Despite Saliva Ban in Cricket Due to COVID-19
the package is among the most substantial in the world after the financial packages announced by the United States, which is 13 per cent of its GDP, and by Japan, which is over 21 per cent of its GDP. Also Read - On Call, PM Modi, Donald Trump Discuss Ladakh Standoff, Ongoing Protests in US, G-7 Summit
Higher than Pakistan?
Not higher, but it is almost equal. Pakistan’s GDP is 284 billion dollars and the stimulus package totals to 265 billion dollars. But it is definitely higher than the GDP of Vietnam, Portugal, Greece, New Zealand and Romania.
The stimulus is five times the personal wealth of Mukesh Ambani, which is 5,760 crore USD.
Devil in the details?
However, many experts are of the opinion that the package won’t be of Rs 20 lakh crore. It will come down to half of it as there will be several reforms in the package which will translate into benefits equivalent to the rest of the amount.