PM Modi announces Economic Response Task Force to suggest ways to boost economy

Prime Minister Modi said this task force will decide on steps to be taken to overcome economic hardships.

New Delhi: Prime Minister Narendra Modi on Thursday (March 22) announced the formation of COVID-19 Economic Response Task Force under the leadership of the Finance Minister to comprehensively look at ways to boost the economy.

"In view of the economic challenges posed by coronavirus pandemic, the government has decided to set up a Covid-19 Economic Response Task Force under Finance Minister," Modi said, adding this task force will decide on steps to be taken to overcome economic hardships.

The prime minister also appealed to the trading community as well as the affluent to look after the interest of their employees and not penalise them for being unable to attend work due to travel and other restrictions.

Notably, sectors ranging from tourism to aviation to certain segments have been battered as countries closed borders, restricted air travel and industries went into emergency lockdowns. While the aviation industry has been hit hard by the suspension of flights on certain sectors and travels bans, hotels and tourism sector has suffered due to cancellations.

In his address to the nation, PM Modi urged people that they should not cut the wages of those working in their homes as support staff, drivers, and gardeners because they also their family to look after. 

He also asked people not to indulge in panic buying, because the country has enough food and ration supplies.
 Asking people to sacrifice "some weeks of yours, some time of yours", PM Modi said, while adding that coronavirus has no cure yet, the only way to stay safe is to stay indoors.

"I request all people in country to get out of house only when it is extremely necessary, try and do all work from home," he added.

The Prime Minister said that during two world wars people were not affected the way they have been hit by the spread of the novel coronavirus, adding that so far, there is no cure available for this epidemic nor there is any vaccine for it.

He also sought to impose a “Janata” curfew on March from 7 AM to 9 PM to curb the spread of the novel coronavirus.

The lock-down in China, where the coronavirus inflection originated, has led to supply issues with pharmaceutical as well as electronics industry, causing temporary layoffs in some sectors.