India outlines $22.6 billion economic stimulus to help poor hit by lockdown
March 26, 2020 02:59 PM NPT
India's Finance Minister Nirmala Sitharaman and the Reserve Bank of India (RBI) Governor Shaktikanta Das arrive to attend the RBI's central board meeting in New Delhi, July 8, 2019. REUTERS/Anushree Fadnavis
NEW DELHI, March 26: India on Thursday announced a 1.7 trillion rupee ($22.6 billion) economic stimulus plan that will be released through direct cash transfers and food security measures aimed at giving relief to millions of poor hit by the nationwide lockdown in the country.
“We have come with a package which will immediately take care of the welfare concerns of the poor and suffering workers and those who need immediate help,” said Indian Finance Minister Nirmala Sitharaman, at a press briefing.
The moves come two days after Prime Minister Narendra Modi ordered a 21-day nationwide lockdown to try to protect India’s 1.3 billion people from the fast-spreading coronavirus.