Wednesday, 25 Mar 2020 07:16 PM MYT
NEW DELHI, March 25 — India is likely to agree an economic stimulus package of more than 1.5 trillion rupees to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters. One of the sources, a senior government official, said the stimulus plan could be as large as 2.3 trillion rupees, but final numbers were still in discussion.
India woke up today to a sweeping lockdown of its 1.3 billion people, one of the world’s most ambitious efforts to fight the coronavirus. India has identified 562 confirmed cases of the disease, which has so far killed nine people in the South Asian nation.The government will also increase its borrowing plan for the fiscal year 2020/21, which starts from April 1, from the current planned gross borrowing of 7.8 trillion rupees, both sources said.
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