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21.05 - 14:35
Immediate stimulus of Rs15 lakh crore needed to overcome Covid-19 impact: CII
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NEW DELHI : The Confederation of Indian Industry (CII) has called for an immediate economic stimulus package of ₹15 lakh crore -- or 7.5% of the GDP -- to tide over the impact of Covid-19 led countrywide lockdown.
The lead industry body said the pandemic has severely crippled the national economy. The lockdown which was necessitated to arrest the spread of contagion has come at a huge economic cost.
By the time third phase of lockdown ends, the industry would have lost almost two months of output, said CII. With economic activities being restricted for over 50 days now, the negative impact on economy is expected to be even more significant than what was anticipated earlier.
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COVID-19
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