Faced with the Covid-19 crisis, Indian Prime Minister Narendra Modi announced on Tuesday May 12 an economic recovery plan of around 250 billion euros for his country, equivalent to almost 10% of GDP, intended for lead India to "self-sufficiency".

Coronavirus Crisis Offers "Opportunity" To 1.3 billion Giant To Make India "Self-Sufficient" To Make It One Of The Leading Countries Of The 21st Century, Hindu Nationalist Said On TV Address to the nation. "The coronavirus crisis taught us the importance of local supply chains (...) The time taught us to think local," he said.

The exact details of the stimulus package, which will focus on "land, work, liquidity and regulations", will be clarified on Wednesday by the finance ministry. The overall amount of 20,000 billion rupees includes some aid already announced by the government and the central bank, said Narendra Modi.

"This stimulus package is aimed at the self-sufficient sector of India. It is for the small, medium and craft industries. It is for workers and farmers who sweat night and day and for the middle class who pays his taxes honestly, "he added.

A peak of the epidemic not yet reached

Last March, his government announced the release of 1.7 trillion rupees in cash transfers, mainly for the poorest, but many had criticized far too modest measures given the magnitude of the economic consequences of the health crisis.

Containment has been in place since the end of March and has already been extended twice, with flexibility since the beginning of May. About thirty trains were to start running between the capital New Delhi and certain major cities.

"The fourth phase of confinement will be completely different," promised Narendra Modi, indicating that the terms would be announced before May 18, the current date for the end of confinement.

India has so far recorded 2,293 deaths on its territory for 70,756 confirmed cases of Covid-19, but daily reports have increased in recent days. Experts say the second most populous country in the world may not experience a peak in the epidemic until June-July.

With AFP and Reuters

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