New Delhi: On the third day of her series of press conferences, finance minister Nirmala Sitharaman is likely to announce a relief package for the hospitality sector on Friday. Also Read - Lockdown 5.0: CMs Favour Extension of Lockdown With Economic Relaxation, Amit Shah Briefs Modi Ahead of May 31
Prime Minister Narendra Modi had announced a Rs 20 lakh crore package towards making India self-reliant (atmanirbhar) during his address early this week. The total package will be 10 per cent of the country’s GDP. Also Read - Lockdown 5.0 Guideline Likely by Tomorrow, Shutdown to be Extended by 15 More Days; Here's How it May Look Like
Here is a quick wrap of what all have been announced so far: Also Read - Lockdown 5.0 or Exit Blueprint? Amit Shah Meets PM Modi at 7 Lok Kalyan Marg, Day After Holding Talks With CMs
Day 1 ( Rs 5.9 lakh crore): Easy credit facilities to micro, small and medium enterprises and non-banking finance companies.
Day 2 (Rs 3.16 lakh crore): 5 kg rice or wheat and 1 kg chana a month to 80 million migrant families for two months. Rs 1,500-crore interest discount scheme, Rs 5,000-crore special credit facility, one nation one ration card.
A report prepared by the State Bank of India has said that the package announced so far will dent the fiscal deficit by 0.6 per cent of the GDP or Rs 1.29 lakh crore in the ongoing financial year. With the announcement of an economic package focussing vulnerable sections of the society on Thursday, the government has so far provided a stimulus totalling Rs 16.45 lakh crore.
This implies that the remaining nearly Rs 3.54 lakh crore of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on May 12 is yet to be announced.
Of the total announcement of Rs 3.16 lakh crore (on Thursday), the total cash outlay for the Government will be around Rs 14,50014,750 crore. The impact of Thursday’s package on fiscal deficit is expected to be minuscule at 0.07 per cent of GDP, SBI’s ‘Ecowrap’ report said.