Nirmala Sitharaman takes stock of coronavirus impact on economy

Finance Minister Nirmala Sitharaman along with Railways Minister Piyush Goyal and IT Minister Prakash Javadekar spoke on India's preparedness to fight coronavirus. During a press conference after the cabinet meeting on Friday, Sitharaman said that that the government is continuously monitoring the impact of coronavirus on the economy.

"Government of India and state governments are continuously monitoring and making sure that timely, effective steps are being taken. Global markets have all had severe volatility and we are monitoring. We are conscious of the developments. Together with RBI, we are closely monitoring. Each department is working best on ways to provide relief," said the Finance Minister.

Nirmala Sitharaman also added that interaction and engagement with concerned sectors is happening almost on a daily basis. "RBI Governor recently recognised the need of the hour," stated the minister.

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As many as 75 people have been confirmed with COVID-19. A 76-year-old man from Karnataka succumbed to coronavirus on Thursday. Schools, colleges as well as theatres in multiple states including Delhi, Bihar and Karnataka have been shut down due to the infection. Public libraries, gyms, swimming pools, water parks in Chhattisgarh have been closed till March 31. Additionally, BCCI has postponed the Indian Premier League (IPL) 2020 from March 29 to April 15. India has also suspended visas of all countries till April 15. Delhi government has asked all buses coming from other states to Delhi to be disinfected at all the ISBTs.

Air India has cancelled its flights to Italy, France, Germany, Spain, South Korea and Sri Lanka till April 30. The government has also asked airlines to waive off cancellation fees.

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