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.
300,000 Pounds Suspect Cash Seized From Indian-Origin Couple's UK Home
(SAI Bureau)Crime prevention officials and police in the UK have recovered over 300,000 pounds in cash suspected of being the proceeds of crime from a...
India's Covid problem could be bigger than we think
As India's virus cases rise, so do questions over death toll India is approaching the ninth month of the coronavirus pandemic with more than five ...
Why can companies still silence us with mandatory arbitration?
By Moira Donegan When it was revealed in October that Andy Rubin received a $90m exit package after being forced to resign over a credible sexual har...
Scindia camp wins big in MP Cabinet expansion, Shivraj inducts ministers with eye on bypolls: 10 points
The Jyotiraditya Scindia camp of former Congress MLAs won big at the Madhya Pradesh cabinet expansion. 11 ministers from his camp were inducted in the...
NIA makes 6th arrest in 2019 Pulwama attack, key JeM aide held
Mohd Iqbal Rather had facilitated the movement of Jaish-e-Mohammed (JeM) terrorist Muhammed Umar Farooq, a key conspirator in the Pulwama attack case....
China To Take Countermeasures If UK Extends Hong Kong Citizenship Plan
Britain's offer came in response to a sweeping new security law that China unveiled for the former British territory this week. London, United King...
The real face of Pakistan-sponsored terrorism in Jammu and Kashmir
(By Press section, Consulate General of India in New York) The real face of Pakistan-sponsored terrorism in Jammu and Kashmir was recently revealed as...
Indo American Press Club Holds Virtual Induction Ceremony
Dr. Joseph Chalil Inducted As Chairman, Dr. S.S. Lal As President of IPAC (Press Release By AJAY GHOSH) New York : During a solemn virtual ceremony...
Across the world, dictatorial regimes use Covid-19 to quash press freedom
Perhaps we shouldn't be surprised by attacks on press freedoms and journalists around the world amid the Covid-19 pandemic. We've seen this pattern be...
Maharashtra Government Moves Supreme Court Alleging Browbeating by Television Anchor
Arnab Goswami had moved the apex court seeking quashing of the Complaints and FIRs filed against him by Congress leaders in different states across In...
© All rights Reserved. The south Asian, Published Weekly from New york.