FISCAL

India's central government fiscal support measures can be divided into two broad categories:
(i) above-the-line measures which include government spending, foregone or deferred
revenues , and expedited spending
(ii) below-the-line measures designed to support businesses and shore up credit provision to
several sectors

In the early stages of the pandemic response, above-the-line expenditure measures focused
primarily on social protection and healthcare. 
Include:
in-kind (food; cooking gas) and cash transfers to lower-income households
wage support and employment provision to low-wage workers
insurance coverage for workers in the healthcare sector; and healthcare infrastructure 

The measures that were announced later include additional public investment and support
schemes targeting certain sectors.
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, and
a reduction in the penalty interest rate for overdue GST filings.

The budget expanded spending on health and wellbeing, including a provision for the
country's COVID-19 vaccination program 
Finally, customs duties and other taxes on vaccines, oxygen and oxygen-related equipment
were waived to boost their availability.

MONETARY

1. the Reserve Bank of India (RBI) reduced the repo and reverse repo rates 
2. announced liquidity measures comprising Long Term Repo Operations (LTROs), a cash
reserve ratio (CRR) cut
3. provided relief to both borrowers and lenders and SEBI temporarily relaxed the norms
related to debt default on rated instruments
4. the RBI introduced regulatory measures to promote credit flows to the retail sector and
micro, small, and medium enterprises (MSMEs) 
5. RBI announced a special liquidity facility for mutual funds (SLF-MF) and a fixed-rate 90-
day repo operation for banks exclusively for meeting the liquidity requirements of mutual
funds,