Banks, select financial institutions report frauds involving Rs 1.13 lakh crore in H1 of FY20: Sitharaman
Finance Minister Nirmala Sitharaman on Sunday said the Rs 20 lakh crore economic stimulus package to deal with the fallout of COVID-19 includes Rs 8.01 lakh crore of liquidity measures announced by the Reserve Bank since March.
The stimulus totals to Rs 20.97 lakh crore, she said, adding this also comprises the Rs 1.92 lakh crore package of free foodgrain and cooking gas to poor and cash to some sections announced in March.
The five part stimulus package announced beginning May 13 comprised Rs 5.94 lakh crore in the first tranche that provided credit line to small businesses and support to shadow banks and electricity distribution companies.
The second tranche included free foodgrain to stranded migrant workers for two months and credit to farmers, totalling Rs 3.10 lakh crore.
Spending on agri infrastructure and other measures for agriculture and allied sectors in the third tranche totalled to Rs 1.5 lakh crore.
The fourth and fifth tranches that dealt mostly with structural reforms totalled to Rs 48,100 crore, she said.
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