South Asian Insider
India likely to unveil $20 billion-plus stimulus package to tackle Covid-19 downturn: Report
The package, which could be announced by the end of the week, will be used to put money directly into the accounts of more than 100 million poor and to support businesses hit the hardest by the lockdown. India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters. The Indian government has not yet finalised the package and discussions are ongoing between Prime Minister Narendra Modi’s office, the finance ministry, and Reserve Bank of India (RBI), said both the sources, who asked not to be named as the matter was still under discussion. One of the sources, a senior government official, said the stimulus plan could be as large as 2.3 trillion rupees, but final numbers were still in discussion. The package, which could be announced by the end of the week, will be used to put money directly into the accounts of more than 100 million poor and to support businesses hit the hardest by the lockdown, the sources said. India woke up on Wednesday to a sweeping lockdown of its 1.3 billion people, one of the world’s most ambitious efforts to fight the coronavirus. India has identified 562 confirmed cases of the disease, which has so far killed nine people in the South Asian nation. Modi announced the three-week shutdown in a late evening speech on Tuesday. The government will also increase its borrowing plan for the fiscal year 2020/21, which starts from April 1, from the current planned gross borrowing of 7.8 trillion rupees, both sources said.
Covid-19 cases re-surge in Maharashtra, other states follow
By Susmita Ghosh The presence of a new strain of the Covid-19 virus is reported in India, especially in Maharashtra where the coronavirus cases are o...
Oil price in India soars, 4 states offer relief
By Susmita Ghosh In order to rein in the soaring prices of petrol and diesel, four states have cut taxes in recent days. This resulted in giving some...
Civil Servants Union Wants UK High Court Intervention In Priti Patel Bullying Case
(Insider Bureau)- The union for senior civil servants in the UK, First Division Association (FDA), wants the High Court to overturn UK Prime Minister...
Stimulus vote Friday morning?
What that means for the $1,400 check timeline The first milestone vote on the stimulus package is set for Friday, which brings the delivery date fo...
A budget for a 'project finance economy'
This year's budget revealed the mindset of a confident and unapologetic India. In this newspaper, on January 22, I had argued for the need for develo...
Farmers didn't insult Tricolour, Chinese army sitting in India did: Shiv Sena tells PM Modi
Shiv Sena in its mouthpiece Saamana on Wednesday said that the Indian flag was not insulted and it was intact when the farmer's agitation reached the ...
Lok Sabha adjourned repeatedly as opposition continues protest over farm laws
(News Agencies)- With opposition members demanding a separate discussion on the new farm laws, Lok Sabha proceedings were adjourned repeatedly on Wedn...
No propaganda can deter India's unity, Amit Shah on international comments backing farm stir
(News Agencies)- Union Home Minister Amit Shah on Wednesday slammed international celebrities for commenting on ongoing farmers' stir in India. The s...
Indian-American Bhavya Lal Appointed Acting Chief Of Staff Of NASA
Bhavya Lal served as a member of the Biden Presidential Transition Agency Review Team for the agency and oversaw the agency's transition under the adm...
Biden Revokes Trump Rule Ending Work Permit For H-1B Holders' Spouses
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technica...
© All rights Reserved. The south Asian, Published Weekly from New york.