PM Modi reviews COVID-19 impact on economy in meeting with FM; 2nd stimulus discussed

Prime Minister Narendra Modi met with Union Finance Minister Nirmala Sitharaman on Thursday and reviewed impact of Coronavirus pandemic on ecomy, details of which have been accessed by Republic Media Network. In meeting between Prime Minister and Finance Minister, a second stimulus pack was discussed to provide relief to those sectors which have been severely affected. 

PM reviews impact on ecomy

PM Modi also discussed impact of pandemic from small sectors to aviation sector and also millions of jobs that have been affected. meeting comes amid a drastic reduction in GDP growth forecast by various multilateral funding ncies for current fiscal due to impact of COVID-19 and consequent lockdown. State of ecomy was discussed in detail during meeting, sources said, ding resource mobilisation for taking on future challenges was also highlighted.

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Previously, Rs 1.75 lakh crore pack was introduced by Central Government as a relief pack. While anuncing first pack, Finance Minister Nirmala Sitharaman said that relief pack includes direct benefit cash transfers, free LPG, grains, and pulses for poor while middle class would be able to withdraw funds from ir Employees Provident Fund (EPF) account.

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With 941 more COVID-19 cases in last 24 hours, India's coronavirus tally crossed 12,000 mark with tally reing at 12,380 cases, said Union Ministry of Health and Family Welfare on Thursday. Out of total tally, 10,477 patients are active cases while 1,489 patients have been cured, discharged and migrated. With 37 more deaths reported in last 24 hours, death toll has risen to 414.

government also constituted an empowered group - heed by Ecomic Affairs Secretary Atanu Chakraborty - which is entrusted with task of suggesting measures that can bring back ecomy back on track quickly post lockdown.

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'Jaan bhi Jahaan bhi'

PM Modi on Saturday, before officially anuncing extension of lockdown, h said that re seems to be a consensus among states on extension of lockdown by ar two weeks and said motto of government earlier was 'jaan hai to jahaan hai' but w is 'jaan bhi jahaan bhi'.

PM's thrust on 'jaan bhi and jahaan bhi' (life also, world also), during his interaction with Chief Ministers through video conferencing, appeared to be an indication of some relaxation in restrictions and a possibility of a wider ecomic stimulus pack. 

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