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Coronavirus: Green shoots now visible in economy due to steps taken in past few weeks, says PM Modi

India was under lockdown between March 25 and May 31. The government decided to reopen the economy in a staggered manner from June

twitter-logoBusinessToday.In Last Updated: June 16, 2020 | 17:18 IST
Coronavirus: Green shoots now visible in economy due to steps taken in past few weeks, says PM Modi
Prime Minister Narendra Modi

Prime Minister Narendra Modi on Tuesday said that steps taken in the past few weeks have helped the economy to recover. Modi also said that the fight against coronavirus is a perfect example of cooperative federalism in which both Centre and states are working together to contain the pandemic.

"With the steps taken in the last few weeks, green shoots are now visible in the economy. Power consumption, which was earlier reducing is increasing. Fertiliser sale in May this year has doubled since May last year. This time, Kharif sowing is 12-13% more compared to last time," Modi said in his opening remarks while addressing the first round of meeting with chief ministers to review the current situation amid the coronavirus pandemic.

India was under lockdown between March 25 and May 31. The government decided to reopen the economy in a staggered manner from June.

"Faster resumption will spell good news for employees and jobs, Modi said. Reforms to ease farmer access to market will give the farmers better incomes. It'll ensure farmers take a smaller hit from crop loss due to poor access to storage," he added.

Chief Ministers and Lt Governors of 21 states and union territories including Uttarakhand, Himachal Pradesh, Punjab, Jharkhand, Kerala and Chhattisgarh were present in the meeting which is being held via videoconferencing."Timely decision have helped India to contain COVID-19 spread," Modi aso said. Modi will hold another round of meeting with chief ministers on June 17.

The last such meeting was held on  May 11. The meet comes on the heels of sharp rise in the number of coronavirus cases in the country.

India has now become the fourth worst coronavirus-affected country in the world with a caseload of 2,97,535. India is behind the US (20,76,495 cases), Brazil (7,87,489) and Russia (5,02,436), as per Worldometer figures.

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