Thread by @zules7172

Before PM announced 20 Lakh Crore Economic Package

Feb-Apr: RBI injected Rs 8,01,603 Cr liquidity into the system

After lockdown, PM: Mahabharata was won in 18 days, the war against coronavirus vl take 21 days

Mar: In PMGKP, Rs 1,92,800 Cr was announced

What else?
Read On⬇️

GOI revised it's borrowing by 53.85% to Rs 12 Lakh Cr frm Rs 7.8 Lakh Cr

Fiscal Deficit Target estimated earlier ws 3.5% of GDP. Increased borrowing vl expand FDT

A monthly Rs 1 Lakh Cr borrowing, now, is way above market's appetite

Where was India before the virus?
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Poverty, NPA, Unemployment, Inflation etc were High

Core Sector, GDP, Consumer spending etc were Low

Rupee Falling, Profitable PSUs on Sale, Banks Collapsing

☆But according to #Modinomics "Fundamentals of Economy were Strong"

What is self-reliant India mission?
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PM announces 20 Lakh Cr economic package which he says is 10% of GDP

Local-vocal, refurbished Make In India, Skill India, Start Up India & repackaged into Aatma Nirbhar Bharat

☆Listen to Modi Ji before v move on

How govt earn & wt vl be its earning during Pendemic?
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Govt basically earns from Tax Revenue, Non-Tax Revenue, Capital Receipts etc

Govt's earning is already taking a hit due to lockdown & it'll continue because of virus

Demand has fallen, so is govt's earning

Where else to get money from to keep country afloat?
Read On⬇️

US gave US $5.9 million, IMF approves $4 bn, ADB pledges $2.2 bn, WB pledges $2 bn(1+1)support to India to fight coronavirus

India cares & gave around _ _ _ _ _ Crore to PM Cares but PMO refuses to make PM Cares fund public
* #Watch PM's Video

What's in FMs Package?
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Rs 801603 Cr + Rs192800 Crore = Rs 994403 Cr was injected before the announcement of 20 Lakh Crore Package by PM.

FM Sitharaman shared the details of remaining Rs 10.06 Lakh Crore in tranches (Detail given below in picture)

Why credit guaranteed loan for MSMEs?
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No certainty about when economic activity vl resume

Businesses not in mood to borrow

Manufacturers sitting on stock & vendors unable to take up the stock

Barring essential goods & services, there is no Demand & that is holding back Credit Growth

Why MSMEs in a Fix?
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MSMEs demanding waiver on loan interest & financial support to pay dues during lockdown but GOI is providing credit guaranteed loan

Is that loan to Pay in the Absence of Demand?
Or
Let MSMEs Slide more into Debt?
Or
Let the loan become NPA?

Wt bout farmers & labours?
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Farmers r unable to find buyers for rabi crops & facing loss due to the disruptions in harvesting & procurement but GOI is extending loans

Violations being committed in regard to all the int'l commitments to labour standards & human rights

65% boost--MGNREGA👍

Fact?
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Basically, the Stimulus of Economic Package:
~Earlier Schemes
~Privatisation, Sale & FDI
~Revision of Budget2020 Expenditure
~Loan Nirbhar Bharat with burden of EMIs & Interests

Fact: Fiscal Relief is limited to about 1% of GDP

Ek Taka Sach Unnees Taka Jhoot

Jai Ho Future🙏