The government can announce bailout package, Sitharaman said – the amount spent in fighting the epidemic will come under the purview of CSR

  • Congress leader Adhir Ranjan demanded immediate announcement of relief package during the discussion in Lok Sabha
  • In his address, Modi spoke about the formation of a task force headed by Finance Minister Nirmala Sitharaman.

The Modi government may soon announce a bailout package to deal with the Corona crisis. Prime Minister Narendra Modi, in his address to the nation 4 days ago, spoke about the formation of a special task force headed by Finance Minister Nirmala Sitharaman. This task force will suggest economic reforms in the current situation. The Finance Minister himself has announced that the money donated to fight Corona will come under the purview of Corporate Social Responsibility.

Sitharaman tweeted on Monday – In view of the spread of corona virus in the country, the government has decided to declare it a disaster.

Therefore, it is necessary to clarify that the funds spent in the fight against Corona will be considered under CSR activity. The Finance Minister said that apart from this, SEBI and RBI can also give a discount in repo rate rates. At the same time, Congress leader Adhir Ranjan Chowdhury on Monday demanded to immediately announce a relief package during the discussion in the Lok Sabha on the Finance Bill.

Modi hinted at bailout package
Prime Minister Modi said in his address on Thursday that coronavirus has affected the world economy drastically. It is to be assessed in our country also On the other hand, US President Donald Trump announced a trillion-dollar relief package to fight Corona. However, the Democrats put a halt to it.

Damage to the global economy
The onset of China’s transition to Wuhan and its gradual spread to other countries have caused great damage to the global economy. The stock markets of many countries including India, America, China and Japan saw major ups and downs. Due to the lockdown, other shops and markets have been kept completely closed except for essentials. Due to this, business has come to a standstill.

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45 districts in 22 states lockdown
Coronavirus infection cases are increasing rapidly in the country. On Monday, their figure reached above 400, while 7 people have died. Public curfew was imposed across the country on Sunday on Prime Minister Modi’s appeal to prevent infection. Currently, 75 districts in 22 states are under lockdown. On Sunday, curfew was imposed in Punjab for not following the rules of lockdown.

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