Relief package announced by Nirmala Sitharaman is too small and makes us look like pygmies, compared to the US..
Finance Minister, Nirmala Sitaraman has announced a relief package of Rs.1.7 lakh crore, to tackle the crisis created by COVID-19. Reputed Indian economist, Swaminathan S. Anklesaria Aiyer, who is also a consultant of the World Bank, has stated that the relief package announced by the Finance Minister is too small and it makes us look like pygmies, compared to the relief package announced by the US government. President, Trump of the US, has announced a $2 trillion relief package to fight the crisis created by the Corona Virus. $2 trillion is 10% of the US's GDP. Whereas, the Rs.1.7 lakh crore, announced by Indian Finance Minister, comes to only 0.5% of the Indian GDP. He has compared the relief package as "a few crumbs from the Finance Minister’s table". The economist has stated that this is a “once in a century” crisis and the Indian government should spend more to tackle it.
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