Prime Minister Narendra Modi's pledge to spend a total of Rs 20 lakh crore for the fall season of the coronovirus epidemic is one of the largest economic stimulus packages announced by countries around the world.
Modi's Self-India India Campaign or Self-Reliant India Mission is about 10 percent of India's GDP in 2019-20 and will overtake Japan, the US, Sweden, Australia and Germany.
The relief package included Rs. The package of 1.7 lakh lakh crores is included, which was announced by the government in March and the Reserve Bank of India (RBI) took measures like increasing liquidity and cutting interest rate. The RBI also said that its measures provide support equivalent to 3.5% of GDP.
Other countries such as Japan have also announced packages equal to 21.1% of their GDP, US measures operate at an estimated 13% of GDP, Sweden announces incentives equal to 12% of its GDP. Hai, Australia has allocated 10.8% of GDP, with Germany declaring to spend around $ 815 billion, equivalent to 10.7% of its GDP.