Dhruv Rathee explains details of Govt’s 20 lakh cr package

New Delhi: Dhruv Rathee explained the details of the recently announced economic package of Rs. 20 lakh crore.

Govt clubbed monetary package with fiscal package: Rathee

He said that the Central Government has clubbed Rs. 8 lakh crore monetary package with Rs. 12 lakh crore fiscal package to claim it as an economic package.

Rathee said that most countries in the world never counts monetary package in an economic package.

Monetary package

Monetary package is given by Central Bank of the country, in case of India it is Reserve Bank of India. It increases liquidity in the market by infusing cash. It is done by decreasing Repo Rate thereby making loans available for banks at cheaper rates.

READ:  Cong attacks BJP over Sakshi Maharaj's Owaisi remark

Monetary policy has negligible impact on common person.

Fiscal package

Out of 12 lakh crore of fiscal package, much of it is given in the form of loan or credit.

Citing various reports, Rathee said that the real stimulus amount is between Rs. 1 lakh crore and 2.7 lakh crore.

KCR slams Central Govt. over stimulus package

Terming its Rs 20 lakh crore stimulus package as a “blatant fraud”, Telangana Chief Minister K. Chandrashekhar Rao on Monday slammed the Centre for treating states as its subordinates and beggars.

Abhijit Banerjee’s suggestion

It may be noted that earlier, Nobel laureate Abhijit Banerjee said, “Give money in the hands of everybody, so that they can buy from stores or they buy consumer goods. So MSME produces a bunch of stuff that people will want” said Banerjee.

READ:  Poultry industry hit by bird flu fears, chicken prices drop by 50 percent

Subscribe us on The Siasat Daily - Google News
Back to top button