The government's calibrated fiscal response in reviving economic growth hit by the outbreak of COVID-19 pandemic leaves India with a greater elbow room to deploy fiscal resources in the future, the Economic Survey said on Friday. In order to facilitate a resilient recovery of the economy from the impact of COVID-19 pandemic and the following lockdown, Government of India and Reserve Bank of India (RBI) together announced a total stimulus worth Rs 29.87 lakh crore, which is 15 per cent of national GDP.
Out of this, stimulus worth 9 per cent of GDP has been provided by the government under