India to provide $266 billion to boost pandemic-hit economy

DIPTENDU DUTTA / AFP

Indian Prime Minister Narendra Modi has announced a 20 trillion rupees (AED 976 billion/ $266 billion) stimulus package to revive the economy.

During his televised address, he said the package - which is equivalent to 10 per cent of the country's gross domestic product - was aimed at creating "a self-reliant India".

Starting Wednesday, the finance ministry will start unveiling details of the package, with "focus on areas like land, labor, liquidity and law".

Modi also hinted that the country would start to ease lockdown measures after Sunday, adding that it is possible to fight the coronavirus while moving ahead.  

So far, the country has more than 70,000 cases and is set to surpass China within a week.

More from Business

Coming Up on Dubai Eye

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.

  • Afternoons with Helen Farmer

    2:00pm - 5:00pm

    Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!