India PM announces 270 billion U.S. dollars virus economic package

India's Prime Minister Narendra Modi unveiled Tuesday a stimulus package worth 10 percent of the country's GDP to boost laborers and small businesses as the economy reels from the coronavirus pandemic and a weeks-long lockdown.

The 20-trillion-rupee (266 billion U.S. dollars) relief plan for Asia's third-largest economy came as the country enters its 50th day under the world's biggest shutdown on Wednesday.

The economic package "will give a new momentum to India's development journey and put India on the road to self-reliance," Modi said in a special television address to the nation.

"It is for the cottage, small and medium-scale industries."

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