Following are the highlights of the mega-stimulus package announced by the government to boost the economy:

• Additional plan expenditure of up to Rs 20,000 crore (Rs 200 billion)
• Excise duty reduced across the board by 4 per cent.
• IIFCL authorised to raise Rs 10,000 crore (Rs 100 billion)  via tax-free bonds.
• PSU banks to announce package for borrowers of home loans.
• Rs 350 crore (Rs 3.50 billion) additional funds for export incentives.
• Back-up guarantee to ECGC for up to Rs 350 crore.
• 2 per cent interest subvention for labour-intensive exports.
• Rs 1,100 crore (Rs 11 billion) to ensure full refund of Terminal Excise duty.
• Additional Rs 1,400 crore (Rs 14 billion)  for textile sector under TUF Scheme.
• The guarantee cover for loans to MSME doubled to Rs 1 crore (Rs 10 million).
• The lock-in period for such collateral-free loans reduced.
• Government departments allowed to take up replacement of vehicles.
• Import duty on naphtha for power sector eliminated.
• Export duty on iron ore fines eliminated.
• The economy will continue to need stimulus in next fiscal.