Stimulus package 2020: Immediate relief worth Rs 80,000 cr only; combined fiscal dent to be 12%: CARE Ratings
"The break-up of the Rs 20 lakh crore shows the RBI has a share of Rs 8 lakh crore, while another Rs 1.9 lakh crore was announced earlier before this grand package. Hence these five tranches provide for Rs 10 lakh crore," says CARE Ratings
- May 17, 2020,
- Updated May 17, 2020 4:40 PM IST
With the announcement of the last tranche of the Rs 20 lakh crore coronavirus relief package on Sunday, estimates suggest capital of only Rs 75,000-80,000 crore will be available for immediate relief to the economy.
The government on Sunday announced a Rs 40,000 crore increase in allocation for the flagship Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), which would take the overall corpus to more than Rs 1 lakh crore, the highest ever since the scheme was introduced in 2006. It can potentially offer employment of 100 days to over 2 crore migrants in the country.
"The break-up of the Rs 20 lakh crore shows the RBI has a share of Rs 8 lakh crore, while another Rs 1.9 lakh crore was announced earlier before this grand package. Hence these five tranches provide for Rs 10 lakh crore," CARE Ratings said in a note.
With the announcement of the last tranche of the Rs 20 lakh crore coronavirus relief package on Sunday, estimates suggest capital of only Rs 75,000-80,000 crore will be available for immediate relief to the economy.
The government on Sunday announced a Rs 40,000 crore increase in allocation for the flagship Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), which would take the overall corpus to more than Rs 1 lakh crore, the highest ever since the scheme was introduced in 2006. It can potentially offer employment of 100 days to over 2 crore migrants in the country.
"The break-up of the Rs 20 lakh crore shows the RBI has a share of Rs 8 lakh crore, while another Rs 1.9 lakh crore was announced earlier before this grand package. Hence these five tranches provide for Rs 10 lakh crore," CARE Ratings said in a note.