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Modi Announces $260 Billion Coronavirus Rescue Package for India Modi Announces $260 Billion Coronavirus Rescue Package for India
(8 days later)
NEW DELHI — In a televised address Tuesday night, India’s prime minister, Narendra Modi, announced an economic rescue package of more than $260 billion for a nation that, although relatively successful in controlling coronavirus infections, has been left economically devastated.NEW DELHI — In a televised address Tuesday night, India’s prime minister, Narendra Modi, announced an economic rescue package of more than $260 billion for a nation that, although relatively successful in controlling coronavirus infections, has been left economically devastated.
Mr. Modi was short on details but said the relief package, which amounts to around 10 percent of India’s gross domestic product and was larger than expected, would help all classes, from farmers and migrant laborers to big businesses.Mr. Modi was short on details but said the relief package, which amounts to around 10 percent of India’s gross domestic product and was larger than expected, would help all classes, from farmers and migrant laborers to big businesses.
He urged Indians to become more economically self reliant and harkened back to Mohandas K. Gandhi’s century-old campaign to boycott British textiles and buy Indian cloth instead.He urged Indians to become more economically self reliant and harkened back to Mohandas K. Gandhi’s century-old campaign to boycott British textiles and buy Indian cloth instead.
“Be vocal about local!” Mr. Modi said. “Who can stop us from becoming a self-reliant India?”“Be vocal about local!” Mr. Modi said. “Who can stop us from becoming a self-reliant India?”
He emphasized that India can make many products locally, boasting that the country went from manufacturing almost no PPE kits or protective masks before the coronavirus pandemic to now making hundreds of thousands each day.He emphasized that India can make many products locally, boasting that the country went from manufacturing almost no PPE kits or protective masks before the coronavirus pandemic to now making hundreds of thousands each day.
Mr. Modi has been under intensifying pressure to announce a rescue package. India’s strict lockdown and the global turmoil from the pandemic have hit its economy especially hard, leaving millions of poor people unemployed. All across the country, out-of-work laborers have been pouring from cities and returning to rural areas where they hope to rely on family members to survive.Mr. Modi has been under intensifying pressure to announce a rescue package. India’s strict lockdown and the global turmoil from the pandemic have hit its economy especially hard, leaving millions of poor people unemployed. All across the country, out-of-work laborers have been pouring from cities and returning to rural areas where they hope to rely on family members to survive.
Just last week, a freight train crushed 16 laborers who had stopped to rest along some railway tracks. On Tuesday, seven weeks into the lockdown, long lines of laborers and their families trudged down highways in New Delhi carrying lumpy bundles on their heads and beginning journeys hundreds of miles long.Just last week, a freight train crushed 16 laborers who had stopped to rest along some railway tracks. On Tuesday, seven weeks into the lockdown, long lines of laborers and their families trudged down highways in New Delhi carrying lumpy bundles on their heads and beginning journeys hundreds of miles long.
Migrant laborers were among the people who would be helped by the stimulus plan, Mr. Modi said. He promised that in the coming days India’s finance ministry would reveal all the details.Migrant laborers were among the people who would be helped by the stimulus plan, Mr. Modi said. He promised that in the coming days India’s finance ministry would reveal all the details.
Economists said the package was bigger than they had predicted but should have come earlier.Economists said the package was bigger than they had predicted but should have come earlier.
“It’s overdue as the economic impact on India is going to be quite severe,” said Arvind Subramanian, a former economic adviser to the Indian government.“It’s overdue as the economic impact on India is going to be quite severe,” said Arvind Subramanian, a former economic adviser to the Indian government.
Mr. Subramanian said that India could afford to spend the money through a combination of bond issuance, borrowing overseas and central bank spending because the country is not heavily indebted internationally. And he said India had no choice.Mr. Subramanian said that India could afford to spend the money through a combination of bond issuance, borrowing overseas and central bank spending because the country is not heavily indebted internationally. And he said India had no choice.
“Imagine if you did not do this,” Mr. Subramanian said. “The counterfactual will be much more hardship and a greater hit to the economy.”“Imagine if you did not do this,” Mr. Subramanian said. “The counterfactual will be much more hardship and a greater hit to the economy.”
Updated June 24, 2020 Updated June 30, 2020
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
While the International Monetary Fund predicts minimal growth for India’s economy this year, Mr. Subramanian and many other economists say they think the economy, which has been growing steadily for the past three decades, will actually shrink.While the International Monetary Fund predicts minimal growth for India’s economy this year, Mr. Subramanian and many other economists say they think the economy, which has been growing steadily for the past three decades, will actually shrink.
Many Indians listening to Mr. Modi’s speech were eager to hear if the nationwide lockdown, one of the world’s strictest, would be lifted. Since late March, India has closed down everything from parks to airlines, and though the government recently opened some sectors of the economy, like agriculture and some industries, many Indians are desperate to return to work.Many Indians listening to Mr. Modi’s speech were eager to hear if the nationwide lockdown, one of the world’s strictest, would be lifted. Since late March, India has closed down everything from parks to airlines, and though the government recently opened some sectors of the economy, like agriculture and some industries, many Indians are desperate to return to work.
Mr. Modi didn’t directly address their concern, but he said that during the next phase of the lockdown, set to begin in about a week, rules would change.Mr. Modi didn’t directly address their concern, but he said that during the next phase of the lockdown, set to begin in about a week, rules would change.
And he hinted that the lockdown might be eased.And he hinted that the lockdown might be eased.
“All the experts are telling us that corona will be part of our lives for a long period,” Mr. Modi said in his half-hour speech. “But we cannot allow our lives to revolve around corona, corona, corona.” He urged Indians to continue wearing masks and maintaining social distance.“All the experts are telling us that corona will be part of our lives for a long period,” Mr. Modi said in his half-hour speech. “But we cannot allow our lives to revolve around corona, corona, corona.” He urged Indians to continue wearing masks and maintaining social distance.
India has reported around 70,000 coronavirus infections and 2,300 deaths. For a country of 1.3 billion people, that is a far lower infection rate per capita than many richer countries. Though testing is lower here as well, which may mean the infection rate is higher than reported, many public health officials have said India has done a good job so far in containing the virus.India has reported around 70,000 coronavirus infections and 2,300 deaths. For a country of 1.3 billion people, that is a far lower infection rate per capita than many richer countries. Though testing is lower here as well, which may mean the infection rate is higher than reported, many public health officials have said India has done a good job so far in containing the virus.
Maria Abi-Habib contributed reporting from Los AngelesMaria Abi-Habib contributed reporting from Los Angeles