The Finance Minister, Nirmala Sitharaman announced the 5th and final package of the economic stimulus. Some have argued that it involves more of a monetary stimulus, while fiscal measures have fallen short.
In any case, here are the numbers from the 5 tranches and 1 from the package announced even before the PM announced the Rs 20 lakh crores package.
Tranche 1MSME, EPF, NFBC support etc.
|Rs 5.94 lakh crores|
|Rs 3.1 lakh crores|
Tranche 3Agri Infrastructure Fund, animal husbandry, herbal cultivation, bee keeping etc.
|Rs 1.5 lakh crores|
Tranche 4&5MNREGA etc.
|Rs 48,000 crores|
|Stimulus before the PM's announcement including the PM Garib Kalyan Package||Rs 1.92 lakh crores|
|RBI Stimulus Measures||Rs 8.01 lakh crores|
|Total||Rs 20.97 (slightly higher because of rounding up)|
There is no doubt that there are fiscal constraints and it may not always be possible to unleash fiscal measures. What is interesting though is that the economic stimulus measures also include economic reforms like increase of FDI limit in defense, commercial mining of coal etc.