The 10% (of GDP) fiscal package is significant, BUT
No details of how the 10% (already includes RBI amount announced earlier) is going to be funded! And impact on ratings is to be determined subsequently
Already includes amounts from RBIs monetary policy announcements made in the last six weeks
10% is as high as the US - but given jhumlagiri - wait for the details before rushing to any conclusions
And how much are readjustments from the budget for this year?
From earlier directed allocations to new areas which are part of the "self-reliant" vision
To be seen:
Net net, sounds very positive but await details
6.5 lakh crores was already announced - 4.8 l crore from RBI through liquidity measures
And 1.7 lakhs (net around 1.1 l cr as 60k cr was already budgeted) was from Sitharaman for the poor
Modis 20 lakh crore includes Labour, Land and Liquidity (Expect Banknifty to be a big beneficiary tomorrow)
About the amount
Incremental 13.5 l details?
And break up across years if it's all not front-loaded
I expect a large part of the package to repair lending - banks and borrowers
And hopefully demand stimulation and jobs