Stimulus package to arrest economic downturn likely: Report
New Delhi/ IBNS: The government is mulling a package of Rs 1.5 lakh crore to stimulate the economy of India which is currently under lockdown due to coronavirus outbreak, a Reuters report said.
According to the sources, the package has not been finalized yet and discussions between Prime Minister Narendra Modi's office, finance ministry and Reserve Bank of India are underway, said the report.
The report said that the stimulus package could be Rs 2.3 lakh crore, but the package size is still under discussion.
Prime Minister Narendra Modi in a national address on Tuesday (March 24) announced a 21-day lockdown warning all against venturing out and inviting the virus to home.
According to worldometers.info, India has till Wednesday morning 562 positive cases with 10 lives lost to the virus.
There are 422,913 coronavirus cases worldwide now with 18,905 people succumbing to the virus, according to worldometers.info. A total of 109,143 people have recovered.