Categories: Economicpackage

Prime Minister Narendra Modi addressed the nation today — his third since the lockdown was announced.New Delhi: The mega economic package to counter the financial fallout of the coronavirus crisis announced by Prime Minister Narendra Modi this evening has been modelled on the one announced in UK this March. The announcement of a Rs 20 lakh crore package — the details of which are yet to come — was made during an address to the nation this evening, in which the Prime Minister also spoke of  “lockdown 4.0”, indicating that it will have very different rules.The UK’s 30-billion-pound fiscal stimulus has dished out big chunks to the labour market and the healthcare system and was followed by another 330 billion pound guaranteed loans to businesses.Sources said the long-awaited economic package announced by the Prime Minister today will be on similar lines, paying wages for the firms and MSMEs (Micro, Small and Medium Enterprises) which retained their labour force. Top sources
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