The government is looking at a calibrated approach in announcing stimulus measures for the economy, while also keeping in mind fiscal considerations, sources have told CNBC-TV18.

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The economic measures are likely to be spaced out given the uncertainty and the plan is to respond to the evolving situation as it unfolds. People in the know add that further relief measures to the tune of 1.5 -2 percent of GDP has been under discussion while the size of the earlier Garib Kalyan package is roughly estimated at 0.8 percent of the GDP.

However, with the GDP base itself getting reset sometime later in the financial year, the current projections will also change but at this stage, the estimates throw some light on what the possible quantum of the stimulus could be.

The plan is also to try and keep within permissible fiscal limits as much as possible and the government is “ mindful of a significant breach in the deficit target “ while announcing relief measures, sources say.

The government has had deliberations with rating agencies as well and their feedback is being factored in on the fisc and the likely implications.

First Published:May 6, 2020 3:32 PM IST