In the fifth and final presser, Finance Minister Nirmala Sitharaman outlined the breakup of Rs 20 lakh crore stimulus provided in form of announcements in five tranches for coronavirus relief. The total stimulus of Rs 20,97,053 crore included the earlier measures announced by the Reserve Bank of India (RBI) worth Rs 8,01,603 lakh crore and Rs 1,92,800 crore announced by the government under Pradhan Mantri Garib Kalyana Package (PMGKP).
The stimulus provided by the announcements in the first tranche stood at Rs 5,94,550 crore, including measures such as reduction in TDS/TCS rates (Rs 50,000 crore) and emergency working capital for businesses including MSMEs (Rs 3,00,000 crore).
The second part had announcements worth Rs 3,500 crore on free food grains supply to migrant workers for 2 months and housing CLSS-MIG worth Rs 70,000 crore.
The second tranche totaled Rs 3,10,000 crore. Stimulus under Part-3 included incentives for Food Micro Enterprises totaling Rs 1.5 lakh crore and agri infrastructure fund of Rs 1,00,000 crore.
The announcements in 4th and 5th tranche totaled Rs 48,100 crores.
Nirmala Sitharaman had earlier indicated that the package will revive the economy holistically and added that the Aatma Nirbhar Bharat will support people from all walks of life affected by coronavirus pandemic.
"This shall not be just a financial package, but a reform stimulus, a mindset overhaul, and a thrust in governance," she had tweeted.
Also read: Economic stimulus Tranche IV: Old wine in new bottle