Covid-19: Govt not to launch any schemes for a year, says finance ministry

The government will not start any new scheme for a year, said the finance ministry on Friday as a weeks-long lockdown to contain the coronavirus spread played havoc with India’s economic growth and finances.
 

Ministries have been asked to stop sending requests for new schemes to the finance ministry, said multiple media reports.

Spending will only be allowed in the Prime Minister Garib Kalyan Yojana and measures announced under the Atmanirbhar Bharat policy to boost domestic business.
 

The government has announced a cumulative stimulus package of Rs 20 trillion, which is nearly 10 per cent of the country's gross domestic product (GDP) to provide relief to various segments of the coronavirus-hit economy.