What is an economic stimulus package?

An economic stimulus package was announced by finance ministry to help those sectors that are most affected due to nationwide lockdown in view of spread

COVID-19

.


Union Finance Minister Nirmala Sitharaman on Thursday, March 26, announced an economic relief package to soften the blow of nationwide lockdown amid spreading coronavirus. The package focuses on micro, small and medium enterprises (MSMEs) and weaker sections of the society besides injecting liquidity in the market.

The FM said that package worth Rs 1.7 lakh crore was set for the poor who need immediate help like migrant workers and urban and rural poor. "No one will go hungry," she said.

The govt also announced that 20 crore Jan Dhan Women account holders will get ex gratia amount of Rs 500 per month for the next three months. Three crore old age, divyang, widow pensioners will get one-time amount of additional Rs 1000 in two installments through DBT over 3 months.

The govt may announce relief for other economic sectors.

The total number of COVID-19 cases in India has risen to 649, including 593 active cases and 42 people who have been cured or discharged from hospitals, the Ministry of Health said.


Ready to Master Stock Valuation? ET’s Workshop is just around the corner!