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India Declares $264bn Liberation Package

Prime Minister Narendra Modi has announced a 20 trillion rupee ($264bn; £216bn) economic package to help the country cope with its prolonged coronavirus lockdown.

In a televised address on Tuesday, Modi said the package, which is equivalent to 10% of India’s gross domestic product. This will help people who have lost jobs and businesses hit by the shutdown.

“The package will also focus on land, labour, liquidity and laws. It will cater to various sections including cottage industry, medium and small enterprises, labourers, middle class, industries, among others,” he said.

Finally, Finance Minister Nirmala Sitharaman is expected to announce further details at a press conference later today; Wednesday 13th May 2020.

India has over 70,000 confirmed virus cases among its 1.3bn population and is expected to pass China’s total number of infections within a week.

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