In an announcement to the nation Prime Minister Narendra Modi announced a special fiscal stimulus package of Rs 20 lakh crore or 10 per cent of GDP. The PM provided insights into how they have been dealing with crisis and reforms that need to be adopted to help the economy. The lockdown will be extended which was supposed to end on May 17, 2020. The market had been expecting a second stimulus package in the range of 2 to 2.5 per cent of the GDP, as the additional borrowing that were announced on the weekend were to that extent. This is way above the market expectations, participants would be waiting for further details to be provided by Finance Ministry on May 13, 2020. The focus of this package would be farmers, labourers, tax payers and medium and small enterprises (MSMEs). The announcement seems to include certain economic measure that were previously announced like rate cut, liquidity infusion by RBI ~2.5 per cent of GDP and fiscal package of 0.8% announced in March. In an announcement today, the FM provided further clarity on the stimulus spending.