INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Prime Minister Narendra Modi on Thursday constituted a Covid-19 Economic Response Task Force, which will look into the economic
The task force, which is headed by Finance Minister Nirmala Sitharaman, will get in touch with all stakeholders and take their feedback to
make decisions accordingly.
According to a PTI report, the government is working on a financial package for various sectors, including civil
aviation and tourism, to deal with the fall-out of the coronavirus pandemic that has impacted the economy.
Sitharaman is expected to hold a
meeting with MSME Minister Nitin Gadkari, Animal Husbandry Minister Giriraj Singh, Civil Aviation Minister Hardeep Singh Puri and Tourism
Minister Prahlad Singh Patel on Friday to assess the situation in order to work out a package.
Sectors ranging from tourism to aviation to
certain segments have been battered as countries closed borders, restricted air travel and industries went into emergency
stage for more action to follow
The Covid-19 Task Force under the FM's leadership can be expected to come out with concrete proposals very soon
If the people are to show resolve and restraint the State should help them
Particularly, the poor and those who have lost jobs in this disruption have to be provided with income support
The huge oil bounty from the crude crash can be used for this
PM's appeal is a curtain raiser for the concrete actions to follow soon."
Citing an almost certain global recession due to the Covid-19
the full-year India GDP target by 100 bps to 4.1 per cent for FY2021.
On the stock market too, the impact of the coronavirus has been
severe.
On Thursday, the domestic equity market witnessed another day of bear hammering as risk was out of vogue and global markets
continued to melt in the light of the relentless spread of coronavirus pandemic
Sensex has fallen over 30 per cent in the last one month.
PM Modi in his address to the nation today also appealed to citizens to impose
self-curfew on Sunday, March 22.
While requesting citizens to 'only get out of home if essential' in coming weeks, PM Modi said all Indian
will have to follow public-curfew on Sunday, March 22 from 7 AM to 9 PM.
He also asked people to stop panic buying and avoid hoarding
wrong to assume that the coronavirus will not impact India