New Delhi: The Centre is expected to announce an economic package shortly to bailout sectors affected by coronavirus, sources stated here Monday. Four days ago, during his address to the nation, Prime Minister Narendra Modi had indicated such a package is on the cards. He had announced the formation of a special task force headed by Finance Minister Nirmala Sitharaman and said that the COVID-19 ‘Economic Response Task Force’, would take an overview of the situation and suggest the way forward.
Sitharaman has already declared that the donations made towards fighting COVID-19 would be counted as ‘Corporate Social Responsibility’.
“In view of the spread of novel #CoronaVirus in India, its declaration as pandemic by the WHO, and decision of Government of India to treat this as notified disaster, it is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR activity. #IndiaFightCorona,” the finance minister had tweeted.
Currently the country is desperately trying to contain the dreaded pandemic with the number of affected people climbing to 415, Monday. The death toll has gone up to seven.
While addressing the nation Thursday evening the prime minister had admitted that coronavirus will certainly have huge effect on the Indiana as well as global economy. However, as of now, how much of India’s economy will be affected is yet to be assessed.
Worldwide, the economy has gone into a tailspin since the coronavirus outbreak happened in China’s Wuhan. The effect is there for everyone to see. From the biggest of airlines to the smallest of business houses, everyone is staring at losses.
The Congress also demanded Monday in the Parliament a financial package. It said the government should do it immediately. But Speaker Om Birla told Congress’s Adhir Ranjan Choudhury that the matter should not be raised as there was an understanding only to pass the finance bill today.
Agencies
