Indian Prime Minister Narendra Modi announced Tuesday an economic recovery plan of around 250 billion euros for his country, asphyxiated by the containment decreed against the new coronavirus, equivalent to almost 10% of GDP.
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" This stimulus plan is for the sector helping self-sufficiency in India. It is for craft, small and medium industries. It is for the workers and the farmers who sweat night and day and for the middle class who pay their taxes honestly , "said the head of government in a televised address to the nation. " The coronavirus crisis taught us the importance of local supply chains (...) The time taught us to think local, " he said.
The exact details of the stimulus package, which will focus on " land, work, liquidity and regulations ", will be clarified by the finance ministry on Wednesday. The global amount of 20,000 billion rupees includes some aid already announced by the government and the central bank, said Narendra Modi.
“ This recovery plan is for the sector helping self-sufficiency in India. It is for craft, small and medium industries. It is for workers and farmers who sweat night and day and for the middle class who pay their taxes honestly , "he added.
Containment has been in place since the end of March across the South Asian giant and has already been extended twice, with flexibility since the beginning of May. " The fourth phase of confinement will be completely different, " promised Narendra Modi, indicating that the terms would be announced before May 18, the current date for the end of confinement.
India has so far recorded 2,293 deaths on its territory for 70,756 confirmed cases of Covid-19, but daily reports have increased in recent days. Experts say the second most populous country in the world may not experience a peak in the epidemic until June-July.