Where does ₹20 lakh crore stand in the world

How are you guys, so let’s begin this without any further ado. Am I copying Carryminati, he is in news
right now so do India’s economic stimulus package. And it’s way more important than this Carry thing.
So after PM Modi’s speech to make an आत्मनिर्भर भारत our Finance Minister Nirmala Sitaraman announced economic stimulus package in her series of press conferences accompanied by MoS Anurag Thakur and Finance Ministry officials. It was bit of late but with those glittering numbers as 10% of GDP together with measures announced by RBI. How was it and where it stands in front of others packages of other nations. Let’s find it.

First thing we will be primarily comparing India’s package with that of US, UK, Japan, Germany. To begin
with every country has given priority to improving their healthcare systems according to their needs.
Their targets or allocation will be different but intent was similar.

Another big focus of countries was revival businesses major part of that was contributing to revival of
MSMEs. All countries in our discussion have announced loans to support small businesses. US has gone
even further they have announced businesses with certain no. of employees if that pay to employees
their loan will be waived off. For certain businesses which were seriously affected by corona virus
pandemic nations have announced packages as per their needs.

Extention of tax filing dates whether it be direct tax or indirect tax was another common measure in all
countries.

One more measure is Direct Benefit Transfer. Which was identical on all packages. But one measure
difference is present when it comes to India. It is not covering all population, it covers very little population that too is not enough ( which covers 31 crores + construction labourers ) which is still some what closer to only 20% of India’s population. Other countries have done it in various ways like US is giving money on the basis of taxes paid, whereas UK is giving 80% of salary or income as per income tax return and on the other hand Japan and Germany are giving money straight away. In opinion of many economists it is important to give money in the hands of individuals as they can spend it, generating ripple effect in markets of income.

And there are other country specific measures also like India is expected to be benifited from this outbreak as anger in global players regarding China is rising so India has announced various measures to
support these changing sentiments. But they are not enough, I am not saying that they are not good as
increasing FDI limit in defence companies, announcing lists of sectors where government will not be a player, and measures to increase transparency in mining contracts but thay are not enough. PM Modi had announced Land, Labour, Liquidity, Law. Out of that it can be seen only liquidity issue is been taken care of.

To sum up I want to say only one thing that just supply side measures are not going to help like loans
and gurantees etc. which constitute major part of package, you need demand side measures also. So should
we expect another set of measures from Government? In my opinion we should. Tell in commets section
what you think. Thank you!