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“Looking Forward To FM”: P Chidambaram On Rs 20 Lakh Cr Economic Package

Senior Congress leader P Chidambaram said that PM’s announcement of Rs 20 lakh cr package, roughly 10% of GDP is like ‘a heading and a blank page’.

New Delhi| On Wednesday, former finance minister P Chidambaram reacted to PM Narendra Modi’s announcement of releasing Rs 20 lakh crore as an economic stimulus package for the nation amid the COVID-19 crisis.

Senior Congress leader said that he looks forward to learning the details of the stimulus package which will be made public by Union Finance Minister Nirmala Sitharaman.

Former Finance Minister Chidambaram explained why he didn’t react yesterday.

In yesterday’s announcement, PM Modi gave a “headline” and a “blank page”, implying that no details of the package were communicated and much was left for speculation, the Congress leader said.

The package includes Reserve Bank of India (RBI)’s assistance and a Rs 1.74 lakh crore fund announced earlier, days after the country went into lockdown to slow the spread of coronavirus.

Also Read: “Self-dependent India”; PM Modi Declares 20 Lakh Crore Economic Stimulus

Prime Minister Modi announced financial incentives On Tuesday, adding to earlier released packages, for a combined stimulus of Rs 20 lakh crore, about 10% of India’s GDP, to tackle the COVID-19 crisis and its effect on the economy.

Fiance Minister Nirmala Sitharaman is anticipated to address a series of press conferences from today to give details of the package.

The total cases in India surged to 74,281 including over 24,000 cured/discharged or migrated and 2,415 deaths amid lockdown to curb the spread of COVID-19.

In the past 24 hours, 122 casualties were recorded. A staggering 3,525 new cases of COVID-19 were recorded in the last 24 hours.

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