Prime Minister Narendra Modi on Tuesday said a new lock-down 4.0 beyond may 17 was in offing, while announcing an economic stimulus package for Rs 20 lakh crore (estimated 10% of the GDP), with clearly fined leap towards economic reforms that will, in his words, lead to atma-nirbhar Bharat, or a self-reliant, resilient India.
Also, India’s factory output plummeted to records low in march, with the index of industrial production contracting 16.7%, reflecting the drastic impact of the countrywide lock-down that began on March 25. This comes after a positive growth of 4.5% recorded in February, and manufacturing sector output slumped 20% in the March,
While, on the other hand the electricity generation shrank almost 7%, according to data released on Tuesday by the ministry of statistics and program implementation. The mining sector remained flat, without any growth or contraction in output.