How has the government spent Rs.20,00,000 crore as claimed by the finance minister as part of the stimulus package?
Answer
Answer
It has already been clarified that Rs.20 trillion was a sum total of monetary and fiscal measures. FM only announces the fiscal measures and the monetary measures are announced by the RBI. The table below captures the gist of the outlay of how the fiscal stimulus has been given and how the monetary stimulus has been executed by RBI.
Nature of Spend
Details of the Spend
Amount (Rs. in crore)
First Tranche (Fiscal)
Package for MSMEs, DISCOMS, NBFCs
5,94,550
Second Tranche (Fiscal)
Migrant workers, farmers and tribal
3,10,000
Third Tranche (Fiscal)
Farm infrastructure and agri marketing
1,50,000
Fourth & Fifth Tranche
Structural reforms focus
48,100
Stimulus 2.0 outlay
11,02,650
Earlier fiscal measures
1,92,800
RBI Measures (Monetary)
OMOs, CRR cuts, TLTRO, LTRO, TLTRO 2.0
8,01,603
Grand Stimulus Package (Total)
20,97,053
The total stimulus amount clearly adds up to nearly Rs.21 trillion. However, this does not include the monetary stimulus that could be additionally taken up by the RBI. If that is also added up as and when it happens, the actual stimulus could be much larger.