14 May 2020 - India announces economic package to limit the effects of lockdown
Coronavirus: India targets small businesses in economic bailout
(BBC News, 13/05/2020)
India has announced plans to spur small and medium businesses as part of a $266bn (£216bn) economic package.
These include an emergency credit line of collateral-free loans worth $40bn to "resume business activity and safeguard jobs" in the wake of India's lockdown to curb coronavirus.
Finance Minister Nirmala Sitharaman said more measures will be announced in the coming days.
Nirmala Sitharaman on government's Rs 20 lakh crore economic package: Key points
(Times of India, 13/05/2020)
Finance minister Nirmala Sitharaman on Wednesday unveiled the first tranche of the mega economic stimulus package aimed at uplifting the economy battered by the ongoing nationwide lockdown to combat the spread of the novel coronavirus.
In a big push to revive the economy, PM Modi announced a Rs 20 lakh crore package while addressing the nation on the coronavirus situation. The package combines the government’s recent announcements on supporting key sectors as measures rolled out by the Reserve Bank of India (RBI).
Modi Announces $260 Billion Coronavirus Rescue Package for India
Jeffrey Gettleman and Hari Kumar (The New York Times, 12/05/2020)
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.
The coronavirus slayer! How Kerala's rock star health minister helped save it from Covid-19
Laura Spinney (The Guardian, 14/05/2020)
On 20 January, KK Shailaja phoned one of her medically trained deputies. She had read online about a dangerous new virus spreading in China. “Will it come to us?” she asked. “Definitely, Madam,” he replied. And so the health minister of the Indian state of Kerala began her preparations.
Four months later, Kerala has reported only 524 cases of Covid-19, four deaths and – according to Shailaja – no community transmission. The state has a population of about 35 million and a GDP per capita of only £2,200. By contrast, the UK (double the population, GDP per capita of £33,100) has reported more than 40,000 deaths, while the US (10 times the population, GDP per capita of £51,000) has reported more than 82,000 deaths; both countries have rampant community transmission.