American Recovery and Reinvestment Act (2009): In response to the Great Recession, the U.S. government passed a stimulus package that included a mix of tax cuts, infrastructure spending, and transfer payments such as increased unemployment benefits
1. Abenomics (2012-2018): The Japanese government under Prime Minister Shinzo Abe implemented a series of fiscal and monetary policies aimed at stimulating economic growth and ending deflation. These policies included increased government spending on infrastructure and education, as well as monetary policies such as quantitative easing.
European Union Recovery Plan (2020): In response to the COVID-19 pandemic, the European Union implemented a recovery plan that includes €750 billion in funds to support member countries’ economic recoveries. The plan includes significant spending on green initiatives, digital infrastructure, and social welfare programs.
Goods and Services Tax (GST) cut in India (2019): The Indian government cut the GST on a number of goods and services in an effort to boost consumer demand and stimulate the economy, particularly in the wake of a liquidity crisis in the non-banking financial sector.
Canadian Emergency Wage Subsidy (2020-2021): The Canadian government implemented a wage subsidy program to support employers during the COVID-19 pandemic. The program provided a subsidy of up to 75% of employee wages for eligible businesses and organizations, in an effort to prevent layoffs and maintain employment levels.
