Coronavirus: Modi Government Likely To Announce Economic Package, Say Reports

In the wake of coronavirus outbreak, the Modi government is likely to announce an economic package as sectors hugely affected by coronavirus expect a bailout package, reported NDTV. In his address to nation on March 19 over COVID-19, PM Modi had announced about the formation of a special task force headed by finance minister Nirmala Sitharaman. The Prime Minister had added in his address that the coronavirus pandemic has imparted a huge impact on the global economy, however, he had added that its impact on Indian economy was yet to be analysed.

Earlier, in a meeting with different ministries Nirmala Sitharaman had assessed the impact of coronavirus on tourism, aviation, animal husbandry, MSMEs with respective ministries.

The Finance Minister earlier declared that whatever donations are made towards fighting the coronavirus outbreak, it would be considered “Corporate Social Responsibility”.

Also Read: Coronavirus Pandemic | After Delhi, Bihar Announces Complete Lockdown Till March 31

"In view of the spread of novel #CoronaVirus in India, its declaration as pandemic by the WHO, and decision of Government of India to treat this as notified disaster, it is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR activity...," she tweeted quoting the circular of corporate affairs ministry.

In view of the spread of novel #CoronaVirus in India, its declaration as pandemic by the WHO, and decision of Government of India to treat this as notified disaster, it is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR activity. #IndiaFightCorona pic.twitter.com/XQneNBaJe8

— NSitharamanOffice (@nsitharamanoffc) March 23, 2020

On the global front, US President Donald Trump has already initiated a trillion-dollar stimulus package for the economy. However, the package currently stands blocked by the Democrats.

Also Read: 'Please Save Yourself': Many People Still Not Taking Coronavirus Lockdown Seriously, Says PM Narendra Modi

Accoriding to latest update, the number of confirmed coronavirus cases in India has gone up to 415 leading to a lockdown in 80 districts across 13 states till March 31. 

On Sunday, India had observed a 14-hour Janata Curfew as an effort to break the coronavirus spread chain.

(With PTI inputs)