India outlines $22.6 billion economic stimulus to help poor hit by lockdown

by Reuters
Thursday, 26 March 2020 08:20 GMT

NEW DELHI, March 26 (Reuters) - 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 comes 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.

($1 = 75.2500 Indian rupees) (Reporting by Aftab Ahmed; Writing by Neha Dasgupta; Editing by Euan Rocha;)

Our Standards: The Thomson Reuters Trust Principles.