BFF-52 India PM announces $270 bn virus economic package

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BFF-52

HEALTH-VIRUS-INDIA

URGENT

India PM announces $270 bn virus economic package

NEW DELHI, May 12, 2020 (BSS/AFP) – India’s Prime Minister Narendra Modi
announced Tuesday a $270 billion economic package to boost flagging growth as
the country grapples with the impact of the coronavirus pandemic and weeks-
long lockdown.

“This economic package is for India’s self reliant movement. It is for the
cottage, small and medium scale industries,” Modi said in a national
television address.

The package — worth about 10 percent of India’s GDP — came as the
country was set to mark its 50th day in lockdown as the number of virus cases
topped 70,000 with 2,200 deaths.

BSS/AFP/MRU/2128hrs