India Unveils $6.6 Billion Plan to Boost Consumer Demand
India announced an economic plan worth $6.6 billion to create consumer demand and investment in the economy damaged by the corona virus pandemic. $1.6 billion would be paid as allowances and advances to the federal government employees with the condition that they spend on non-essential goods before March 31, said Finance Minister Nirmala Sitharaman in New Delhi. States would separately be eligible to get 120 billion rupees in 50-year interest-free loans for capital expenditure, she said. The federal government will also set aside 250 billion rupees toward capital expenditure on roads, defense infrastructure, water supply and urban development.