{"id":1475,"date":"2020-05-12T22:12:23","date_gmt":"2020-05-12T21:12:23","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=1475"},"modified":"2020-05-12T22:12:23","modified_gmt":"2020-05-12T21:12:23","slug":"covid-19-india-pm-modi-offers-270-billion-as-economic-relief-for-labourers-small-businesses","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/covid-19-india-pm-modi-offers-270-billion-as-economic-relief-for-labourers-small-businesses\/","title":{"rendered":"COVID-19: India PM Modi offers $270 billion as economic relief for labourers, small businesses"},"content":{"rendered":"

India\u2019s Prime Minister Narendra Modi unveiled on Tuesday a $270 billion stimulus package for laborers and small businesses to boost flagging growth as the country grapples with the impact of the coronavirus and weeks-long lockdown.<\/p>\n

The package worth about 10 per cent of India\u2019s GDP, came as the country was set to mark its 50th day in the world\u2019s biggest lockdown as the number of virus cases topped 70,000 with 2,200 deaths.<\/p>\n

\u201cThis economic package is for India\u2019s self-reliant movement. It is for the cottage, small and medium scale industries,\u201d Modi said in a televised address.<\/p>\n

ALSO READ:\u00a0<\/strong>Fire caused by ventilators killed five COVID-19 patients in Russia, 150 evacuated from hospital<\/a><\/strong><\/p>\n

\n

The funding includes a $2 billion relief package announced at the start of the lockdown in late March and stimulus efforts by the central bank, Modi said.<\/p>\n

Finance Minister Nirmala Sitharaman would unveil further details in the next few days, he added.<\/p>\n

The government credits its strict shutdown of almost all activity in the country of 1.3 billion people for limiting the number of virus cases and deaths.<\/p>\n

But the livelihoods of tens of millions of people have been badly hit, particularly the poor and migrant workers, many of whom have lost their jobs.<\/p>\n

\u201cDay laborers, migrant workers have suffered much in this period. It is our duty now to do something for them,\u201d the prime minister said.<\/p>\n

Modi said the next stage of the lockdown, which is due to be lifted on May 18 after being extended twice, \u201cwill be different in many ways.\u201d<\/p>\n

\u201cIt will be based on suggestions received from states,\u201d he said, adding that an announcement would be also made in coming days.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

India\u2019s Prime Minister Narendra Modi unveiled on Tuesday a $270 billion stimulus package for laborers and small businesses to boost flagging growth as the country grapples with the impact of the coronavirus and weeks-long lockdown. 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