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

An additional outlay of Rs 180 billion will be made toward an affordable urban housing program

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The additional stimulus steps amount to about Rs 9 trillion ($120 billion), taking the nation’s total virus relief to almost Rs 30 trillion

Anirban Nag | Bloomberg New Delhi

3 min read Last Updated : Nov 12 2020 | 3:47 PM IST

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.

Asia’s third-largest economy slipped into an unprecedented recession after gross domestic product probably declined for a second straight quarter in

Topics : Coronavirus Economic stimulus Indian Economy recession

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