A Joke worth 20 Lakh Crore

Congress has exposed falsehood of Rs 20 lakh crore stimulus package announced by Nirmala Sitharaman, the analysis of whole package shows that it amounts to only Rs 3.22 lakh crore and is 1.6% of GDP


NH Web Desk

The centre's coronavirus stimulus package amounts to Rs 3.22 lakh crore which is 1.6 per cent of the country's gross domestic product, not Rs 20 lakh crore announced by Prime Minister Narendra Modi last week

1.Stimulus package amount to just 3.22 lakh crore, which is 1.6 per cent of GDP

The Congress exposed the false announcement made by  the Finance Minister Nirmala Sitharaman who unveiled the stimulus package in five days.

2. Five days of stimulus package announcement give no relief to poor

"The government's economic package is only of Rs 3.22 lakh crore and is only 1.6 per cent of India's GDP and is not worth Rs 20 lakh crore as announced by the Prime Minister," Congress spokesperson Anand Sharma said, addressing a press conference through video conferencing

3.Congress spokesperson Anand Sharma pointed out the falsehood of the BJP government

"I am questioning the Finance Minister, disputing the announcement of Prime Minister and challenging the government to disprove me on the numbers given by me and am ready for a debate with the finance minister," he said.

4.Congress spokesman challenged the government for a debate with the finance minister

PM Modi must walk the talk, he added.

Entrepreneur Kiran Mazumdar Shaw said the series of announcements lacked bold measures.

5. The announcements lack bold measures: Kiran Majumdar

"Most disappointed at lack of bold measures in stimulus packages - don't think demand will be created n consequently economic activity will be stifled ₹20 lakh crore was a huge amount n it was meant to stimulate economic revival n growth" tweeted Kiran Majumdar

6. The package will not create demand: Kiran Majumdar

States would be able to borrow more money, the Centre said, increasing their borrowing limit from 3 per cent to 5 percent. This would give them an additional Rs 4.28 lakh crore, said Union finance minister Nirmala Sitharaman, unveiling the fifth and the last tranche of the Rs 20 lakh crore fiscal stimulus

7. The stimulus package increased the borrowing limit for states from 3 to 5 per cent

The states have been facing sharp decline in revenues following the countrywide lockdown imposed to counter coronavirus. "We have consistently provided the necessary support because they are at the front end of fighting the pandemic," Ms Sitharaman said.

8 States have faced a sharp decline in revenues due to lockdown

PM Modi last week announced a Rs 20 lakh crore, which he said was 10 per cent of the GDP, to cushion the economic impact of the coronavirus pandemic and weeks-long lockdown.

9. PM Modi announced 20 Lakh crore package to revive the economy

The package turned to be a self projection technique for the government as it did not offer much relief to the suffering masses

10. The package turned to be a tool for self projection

Most of the points covered in the stimulus package seem to be foul as they are all old policies

11. Old policies presented in new package

The migrants are still on roads braving hunger and punishing weather, the stimulus package offers no relief to these people

12. Migrants still  walk towards their homes in hunger and pain

Congress has not only been raising concerns of these workers but also arranging for buses for them to reach home safely, but BJP is creating hurdles in the help offered by the Congress

13. BJP creates hurdles in the help offered by Congress

Rahul Gandhi has asked PM to reconsider the package to offer immediate help to migrants

14. Rahul Gandhi has asked PM to reconsider the package

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