Top headlines: Govt expands stimulus, Moody's raises India GDP forecast

Govt expands stimulus to 15% of economy, aims to create jobs and help firms

India increased stimulus measures to rescue companies and save jobs in an economy clobbered by a sudden lockdown in March to stem the coronavirus pandemic. The additional stimulus steps amount to about Rs 9 trillion ($120 billion), taking the nation’s total virus relief to almost Rs 30 trillion , or 15% of gross domestic product, Finance Minister Nirmala Sitharaman told reporters in New Delhi Thursday. That equals the total spending envisaged in the government’s budget for the year to March. Read More...

Moody's raises