Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
India 05 05 - Health and income support INR 11,838,186,220,000 159,294,838,251 Press Information Bureau. https://pib.gov.in/PressReleseDetail.aspx?PRID=1633516 (accessed 24 June 2020). Financial Times. https://www.ft.com/content/5734f333-e4d7-4ebf-9de2-220e537da3f0?accessToken=zwAAAXIRWB3Ykc9XNPMz5NdOv9Od4iIOU32j8A.MEQCIE1obkN05q4qkjoiBgF6riG66o6ocs0SQWfl2AsFIikHAiADu_DmNRDP9bo3QfxgYpytmLV8FGnEHOa8g66dgBdahQ&sharetype=gift?token=4a849e3f-c1b7-487d-ba1d-e73f283cd8c8 (accessed 14 May 2020). India Economics Update, Capital Economics. IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 3 July 2020)

(i) Three measures have already been announced as direct support to income/revenue. The first, mainly devoted to health, totalled around INR150 billion. The second, focusing on nonhealth initiatives, totalled around INR2 trillion. Finally, on May 13, USD112.5 billion in fiscal support was announced, which is part of the USD266 billion support package announced by Prime Minister Modi. Part of this will go towards new measures targeting businesses and expanding support for poor households. The complete breakdown is yet to be disclosed; (ii) May 17, an additional INR400 billion was allocated to provide employment boost; (iii) No amount/estimate: Other key measures announced include: (a) health reforms & initiatives by investing in health institutions, among others and (b) a program for digital education to be launched immediately; (iv) June 23, the Prime Minister CARES Trust Fund has allocated INR3 billion for both health and nonhealth initiatives; (v) June 12, the GST council announced that it would halve the interest rate charged on overdue filings of small businesses. On June 30, Prime Minister Modi announced that the provision of food rations to vulnerable households would be extended through end-November (0.4 percent of GDP).

India 05A 05A - Health support INR Press Information Bureau. https://pib.gov.in/PressReleseDetail.aspx?PRID=1633516 (accessed 24 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

Prime Minister Modi announced that an additional INR150 billion will be devoted to health infrastructure, including for COVID-19 testing facilities, personal protective equipment, isolation beds, intensive care unit (ICU) beds, and ventilators; (ii) No amount/estimate: Reduction and/or eliminations of tariffs for imports of medical or surgical instruments and supplies along with eemptions fom "health cess"; (iii) June 23, Allocated from the Prime Minister CARES Trust fund INR2 billion for supply of 50000 ‘Made-in-India’ ventilators to government-run COVID19 hospitals.

India 05B 05B - Income support INR Press Information Bureau. https://pib.gov.in/PressReleseDetail.aspx?PRID=1633516 (accessed 24 June 2020). Ministry of Finance. https://pib.gov.in/PressReleasePage.aspx?PRID=1631127 (accessed 17 June 2020). https://pib.gov.in/PressReleasePage.aspx?PRID=1625319 (accessed 21 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 3 July 2020).

(i) March 26, Finance Minister Sitharaman announced a stimulus package valued at approximately 0.8% of GDP. The key elements of the package are (a) in-kind (food, cooking gas) and cash transfers to lower-income households; (b) insurance coverage for workers in the health-care sector; and (c) wage support to low-wage workers (in some cases for those still working, and in other cases by easing the criteria for receiving benefits in the event of job loss); (ii) No amount/estimate: Several measures to ease the tax compliance burden across a range of sectors have also been announced, including postponing some tax filing and other compliance deadlines; (iii) Numerous state governments have also announced measures to support the health and well-being of lower-income households, primarily in the form of direct transfers (free food rations and cash transfers)-the magnitude of these measures varies by state, but on aggregate measures thus far amount to approximately 0.2% of India’s GDP; (iv) May 17, an additional INR400 billion was allocated to provide employment boost; (v) No amount/estimate: May 20, approved the extension of Pradhan MantriVayaVandanaYojana, a social security scheme for senior citizens, for three additional years until March 2023; (vi) June 12, Provided waiver of late fees and interest as well as reduced the 18% per annum rate to 9% per annum for late furnishing of tax returns for small tax payers; (vii) June 23, a sum of INR1 billion has been allocated from the PM Cares Trust Fund for the welfare of migrant laborers; (viii) June 30, Prime Minister Modi announced that the provision of food rations to vulnerable households would be extended through end-November (0.4% of GDP).

India 09 09 - International Assistance Provided INR 59,452,955,789 800,000,000
India 09A 09A - Swaps INR 59,452,955,789 800,000,000 The Print India. https://theprint.in/diplomacy/india-extends-250-million-support-to-maldives-to-overcome-economic-impact-of-covid-19/506718/ (accessed 21 September 2020). The Edition. https://edition.mv/news/18854 (accessed 3 September 2020). Economic Times. https://economictimes.indiatimes.com/news/economy/finance/rbi-signs-documents-to-extend-400mn-currency-swap-facility-to-sri-lanka-indian-mission/articleshow/77166348.cms (accessed 27 July 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

(i) April 15, A request was made by Sri Lanka to enter into a Bilateral Currency Swap Agreement with the Reserve Bank of India for USD400 million. As of July 25, the Reserve Bank of India (RBI) has signed the documents formally extending the facility to Sri Lanka; (ii) April, RBI entered into a swap currency agreement with the facility with the Maldives Monetary Authority amounting to USD150 million. On September 1, The duration of the currency swap agreement signed between Maldives and India was extended. Presently, Maldives has already received USD150 million under this agreement. In addition, MMA revealed that the Government of India would grant further financing up to USD250 million. As of September 20, the remaining USD250 million financial assistance has been provided by India to the Maldives.

India 09B 09B - International loans/grants INR
India 11 11 - Other Economic Measures INR 382,500,000,000 5,146,926,607 RBI. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50324 (accessed 17 September 2020). Securities and Exchange Board of India. https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-provisions-of-the-sebi-issue-and-listing-of-debt-securities-regulations-2008-ilds-regulation-sebi-non-convertible-redeemable-preference-shares-regulations-20-_47071.html (accessed 17 July 2020), https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-issue-and-listing-of-municipal-debt-securities-regulations-2015-ildm-regulations-and-certain-sebi-circulars-due-to-the-covid-19-vir-_47015.html (accessed 8 July 2020); Ministry of Finance. https://pib.gov.in/PressReleasePage.aspx?PRID=1625319 (accessed 21 May 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 5 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

No amount/estimate: (i) Amendments introduced to the export policy of several products; (ii) May 17, Enhancements to the Ease of Doing Business Act and decriminalisation of Companies Act violations; (iii) July 7, Decided to partially modify circular No. SEBI/HO/DDHS/CIR/P/2020/41 (dealing with investor grievance report, financial results and accounts maintained by issuers under ILDM Regulations) and extended the timelines for submission to July 31, 2020; (iv) July 15, Decided to permit Listers who listed or intend/propose to list NCDs/NCRPS/CPs to use available financials as of December 31,2019, pre-coronavirus; (v) August 31, Announced that various State Governments have offered to sell securities by way of an auction, for an aggregate face value of INR82.5 billion; (vi) August 7, The Reserve Bank announced the constitution of an Expert Committee under the chairmanship of Shri K.V. Kamath to make recommendations on the required financial parameters to be factored in the resolution plans under the ˜Resolution Framework for Covid19-related Stress; (vii) August 31, Announced the re-issue of various fixed-rate government equities (stocks) at different years and percentages, for a total of INR300 billion through price-based action; (viii) September 22, the Parliament adopted the amendment to the Indian Bankruptcy Code, with no insolvency cases until March 25, 2021. [update]