In fact, Finance Minister Nirmala Sitharaman has tweeted that, “In view of the spread of Coronavirus in the country, the government has decided to declare it a disaster. Therefore, the funds spent in the fight with Corona will be considered under CSR activity.
Taskforce was also formed
Earlier, Prime Minister Narendra Modi while addressing the nation said that the covid 19 Task Force has been formed under the leadership of the Finance Minister to overcome the crisis caused by the economy due to Corona. The economy has been adversely affected due to this epidemic.
It has a very adverse effect on the middle class, lower middle class and poor. To deal with this, this task force has been formed. He said that this task force is studying the impact of the coronavirus on the economy in the near future. Who will talk to all the stakeholders and take the necessary steps from time to time.
Government and RBI will take necessary steps
It is known that Krishnamurthy Subramaniam, Chief Economic Advisor (CEA) had said that the government and the Reserve Bank would take all necessary steps to deal with the ‘fear’ of the market due to the coronavirus. Subramaniam said that the decline of Indian stock markets is much lower than other markets in the world. The domestic market will see stability in the next few weeks as the basic signs of the Indian economy remain strong. Inflation is declining, industrial production has increased and the country has a substantial amount of foreign exchange reserves.