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02.06 - 08:57
Cash-strapped India's economic plan unlikely to soften coronavirus blow
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NEW DELHI : India's $266 billion economic rescue package rests mostly on boosting company credit but contains scant new public spending, tax breaks or cash support to revive demand and prevent firms from collapsing, business leaders and economists say.
Businesses from airlines to small stores are reeling from Prime Minister Narendra Modi's nearly two-month lockdown of India's 1.3 billion people aimed at limiting the spread of the new coronavirus.
Many firms say they won't survive unless they are bailed out immediately. The government said on Sunday it would privatise state-run companies in non-strategic sectors and stop fresh insolvency cases for a year.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Deaths: 237 619
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