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India coronavirus: PM Narendra Modi outlines economic rescue package | India coronavirus: PM Narendra Modi outlines economic rescue package |
(30 minutes later) | |
Indian PM Narendra Modi has announced an economic package of more than $260bn to help the country cope with its prolonged coronavirus lockdown. | |
In a TV address, he said the funds, around 10% of India's GDP, would support farmers and small businesses. | In a TV address, he said the funds, around 10% of India's GDP, would support farmers and small businesses. |
He said Finance Minister Nirmala Sitharaman would announce further details in the next few days. | He said Finance Minister Nirmala Sitharaman would announce further details in the next few days. |
On Tuesday, some passenger rail services resumed, an important symbol of the slow return to normality. | On Tuesday, some passenger rail services resumed, an important symbol of the slow return to normality. |
India has confirmed about 70,000 cases of coronavirus and about 2,300 deaths, although some analysts suggest low testing rates may mean many cases are missed. | India has confirmed about 70,000 cases of coronavirus and about 2,300 deaths, although some analysts suggest low testing rates may mean many cases are missed. |
The very strict lockdown, which started on 25 March, has already caused huge economic distress, with tens of millions of poorer Indians and migrant workers worst affected. | The very strict lockdown, which started on 25 March, has already caused huge economic distress, with tens of millions of poorer Indians and migrant workers worst affected. |