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The Indian government has decided to invest 320 trillion won in economic support, including stimulus, to alleviate the economic downturn caused by the new coronavirus infection (Corona19).
Indian Prime Minister Narendra Modi announced his economic support measures worth Rs 20 trillion (about 326 trillion won in Korean currency) through a television speech on the night of 12.
This is about 10% of India’s gross domestic product (GDP).
“The support package will be used for workers, farmers, small and medium workers and the middle class,” said Prime Minister Modi.
“India can overcome the Crown 19 situation alone,” he said. “It is based on the economy with the potential of Quantum Jump, a strong population and demand.”
India launched a national blockade from March 25 to curb the spread of Corona19.
During this period, the operation of industrial facilities, movement restrictions, etc. they were severely affected by the economy, especially among low-income people.
According to the group of experts, the Center for Economic Monitoring of India (CMIE), 12 million Indian workers lost their jobs during the month of April.
As a result, the unemployment rate in India hit a record 27.1%.
The Indian government has extended the blockade, which was scheduled to end in the last three days, for two weeks to 17, and has eased some restrictions, such as allowing the plant’s operations in rural areas.
However, as the unprecedented economic recession continued, a large-scale economic support package was prepared.
In this regard, Finance Minister Nirmala Shitaraman held a separate press conference on the 13th and revealed the details of the economic support plan.
“We will provide unsecured loans worth 3 trillion rupees (about 49 trillion won) for SMEs struggling with Corona 19,” he said.
He also explained measures such as expanding monetary assistance to low-income families, limiting fiscal support, and limiting foreign companies to participate in government procurement projects.
Prime Minister Modi also announced an extension of the blockade.
“The fourth 4.0 block will be completely different from the previous one,” he said.
In this regard, Prime Minister Modi said in a videoconference with the prime ministers on the 11th that after 18 days, each state will have a greater participation in the extension and release of the blockade.
In response, local media analyzed that the government would maintain the national blockade, but that it could flexibly apply restrictions to the situation.
Meanwhile, as of 6:00 p.m. on India 13, the confirmed cumulative number of corona19 was 74,000281.
There are 3,525 new diagnoses per day and 122 deaths, a cumulative total of 2,415.
Pakistan’s confirmed cumulative population was 3,336, an increase of 1,662 from the previous day. The cumulative number of deaths was 737.
In Bangladesh, the number of confirmed patients increased by 1,162 during the day to a cumulative number of 17,822 (269 deaths).
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