J&K

FM Announces Final Breakup of 20 Lakh Crore Economic Package

Srinagar, May 17(KNB): Union finance minister Nirmala Sitharaman on Sunday announced the final Breakup of centre’s Rs 20 lakh crore Atma-Nirbhar Bharat (self-reliant) Economic package.

As per the overall stimulus provided by Atma-Nirbhar Bharat the package amounts to a total of Rs 20,97,053 with Rs 1,50,000 lakh crore allocated in tranche 3, Rs 3,10,000 crores provided in the second tranche including the breakup of the first tranche of announcements, amounting to Rs 5,94,550 crores under economic package.

Pertinently, Rs 20 lakh crore economic stimulus includes Rs 8.01 lakh crore of liquidity measures by RBI and Rs 1.92 lakh crore package to be provided in March.

Moreover, borrowing limit has been rosen to 60% by Reserve Bank of India for states, Nirmala Sitharaman speaking on the revenue drop said, “Likewise Centre, a sharp drop in revenues is also being witnessed by the state as an amount of Rs 46,038 crore were deputed as tax revenue to states, Rs 12,000 crore were dispensed on time while with over Rs 14,000 crore released by Health Ministry.”

She further said, “RBI has increased over 60% in the advancing limits of states.”

Earlier, in view of reviving the economy shuttered by the coronavirus lockdown imposed to combat Covid-19, Prime Minister Narendra Modi had announced a Rs 20 lakh crore special economic package.(KNB)

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