A relief against Corona pandemic: Stimulus packages announced by all governments

Updated: Nov 13

Photo by Fusion Medical Animation on Unsplash

Stimulus package by the US

As US recorded 1,570,908 Coronavirus cases with 93,537 deaths as on May 20, 2020, 09:33 GMT and predicting a 38% decline in the economic growth in the second quarter.

According to Forbes,

"Another 3 Million Filed For Unemployment Last Week—Two-Month Total Hits 36 Million in the US."

Economists were expecting about 2.5 million new claims; 3.2 million people had filed the previous week and 3.8 million the week before that.

President Donald Trump initiated a package of $2 trillion (2 Lakh crore dollars). One time cash payments of $1200 will be done under this relief.

Stimulus package by India

India crossed 106K Corona cases counting total deaths 3,303 on 20 May which is not a worse condition by seeing the numbers of other countries.

According to the Finance Minister Nirmala Sitharaman, the government has announced an almost 30 lakh crore stimulus package in five parts. This is 10% of gross domestic product (GDP) as said by the government.

As per the Finance Ministry of India, they tried their best but still unhappy faces are not certain about this package will be helpful or not.

Read the full article on Livemint

“I've done the best for India Inc: Sitharaman on stimulus package”

Business Today published an article on what Sanford Bernstein said about this stimulus package.

“India's Rs 20 lakh crore stimulus package 'aimless', a 'lost opportunity', says Sanford Bernstein.”

Bernstein says India's desire to announce a large economic package, something that shows the world that they care about the economy and are willing to match global stimulus numbers, was perhaps the "driver" for a claim of a large package.

China’s stimulus package

China has confirmed 82,965 cases and 4,634 deaths due to Coronavirus. This is low count as compared to the US, Russia, UK & Brazil as this virus was spread from China itself.

China didn’t announce any official stimulus package and only depends upon a few tax cut rates and also waiving off the value-added tax (VAT) & fees on film-related businesses.

China seems to get stuck on to tell everybody how China helped the global financial crisis in 2008 with USD 564 billion package.

As per article written on Euromoney

“Coronavirus crisis: China steps back from stimulus”

First, it isn’t the same country it was in 2008. It is still rich, with FX reserves at the end of February 2020 of $3.115 trillion. But those numbers are way off its 2014 peak of $4 trillion. Its unproductive economy chews up capital and spits it out and it's budget deficit, equal to 4.9% of GDP last year, a record high, is only set to widen.

Stimulus package by the UK

The UK has a total of 249K confirmed Coronavirus positive cases and recorded 35,341 deaths as of date 20 May.

As per the article on FinancialDirector.Co.UK

Coronavirus has effectively shuttered large sections of the economy as people are advised to stay at home and to stop any non-essential travel. Due to such sudden and profound shock, the UK government has put numerous policies in place in order to help see businesses through these exceptional circumstances.

Check the full article on

"Stimulus packages outlined by the UK government in response to coronavirus."

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