WORLD India PM announces $270 bn virus economic package

WORLD

India PM announces $270 bn virus economic package

AFP

23:45, May 12, 2020

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.

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File photo by AFP

"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.

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