GOVERNMENT PLANS STIMULUS PACKAGE FOR AFFECTED SECTORS

The government is preparing a stimulus package for sectors worst affected by a deadly coronavirus wave, aiming to support an economy struggling with a slew of localized lockdowns, people familiar with the matter said.

The finance ministry is working on proposals to bolster the tourism, aviation and hospitality industries, along with small and medium-sized companies, the people said, asking not to be identified as the deliberations are private. The discussions are at an early stage and no timeline has been decided, they said. A finance ministry spokesman declined to comment.

The proposals are being drawn up at time when the rupee has emerged as Asia’s top-performing currency from its worst on signs that India’s virus crisis may be easing after infections hit a record 414,118 on May 7. NEW DELHI: