KCR Tears Into PM Modi's Rs 20 Lakh Crore Stimulus, Calls It 'Bogus', Says Not Even Rs 1L Cr Rolled Out of Entire Package

Hyderabad, May 18: Telangana Chief Minister K Chandrashekhar on Monday slammed the Centre over the 20 lakh crore “Aatma Nirbhar Bharat” package announced by Prime Minister Narendra Modi to mitigate the impact of coronavirus on the Indian economy.  KCR called details announced by Finance Minister Nirmala Sitharaman an “bogus”. India’s Recovery Rate for COVID-19 Improves to 38.29%, 2,715 Coronavirus Patients Cured in Past 24 Hours.

“Strictly speaking, the Central government has not doled out even Rs one lakh crore, out of the entire package” reported Hindustan Times media house quoting the CM as saying. He also lashed out the Centre over the conditional increase in the Fiscal Responsibility and Budget Management (FRBM) from three percent to 5 percent. He added that Telangana had already had the facility of borrowings to the extent of 3.5 per cent of the GSDP. Catch Live Updates of Coronavirus Here: 

He added that the Centre should consider states as its subordinates. The Telangana CM alleged that the Centre is trying to rule over the states during the COVID-19 crisis. He said that states did not expect these “bogus” schemes. Speaking on the raised borrowing limits for states from three percent to 5 percent, KCR said that it is not a favour.

Finance Minister Nirmala Sitharaman shared details of the economic package announced by PM Modi in five tranches. On Sunday, Sitharaman listed all the measures and allocations made under the Rs 20 lakh crore economic package for the "self-reliant India" programme. The package also include earlier announcements worth Rs 1,92,800 crore and RBI measures including Rs 8,01,603 crore which come to Rs 9,94,403 crore.

(The above story first appeared on LatestLY on May 18, 2020 11:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).