In his address to the nation on May 12, the Indian PM Narendra Modi has announced a Rs 20-lakh-crore stimulus package to make the country self-reliant and revive the economy that has been stalled by COVID-19.
“Special economic package will have an emphasis on land, labor, liquidity, and laws. The special economic package is for our laborers, farmers, honest taxpayers, MSMEs, and cottage industry,” said PM Modi.
The details of the package equivalent to 10% of India’s GDP will be announced by Finance Minister Nirmala Sitharaman starting today.
Meanwhile, Modi also announced that the Lockdown-4 after May 17 would be different from the previous lockdowns.
The next lockdown will have new rules formulated on par with the suggestions from the state governments.
Meanwhile, the Indian Government has started railway services at full capacity from May 12, 2020, while urging the passengers to maintain social distancing during the transition.
Within 3 hours after the Indian Railways opened booking on May 11, over 54,000 passengers have made reservations for their train journey.
In the last 24 hours, India has reported 3,604 new COVID-19 cases, taking the total number of infections in the country to 75,048.
Meanwhile, the death toll climbed to 2,440. However, 24,900 patients have discharged after recovery.