Photos: India announces structural reforms to boost economy

India will be starting its space facilities, mineral blocks and power distribution to private companies, as it seeks new investments to help shore up an economy hit by the coronavirus pandemic. The government pledged a $265 billion package to support the economy headed for its first full-year contraction in more than four decades.

Updated on: May 17, 2020 7:32 PM IST

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A man looks at train coaches parked in New Delhi Railway Station. With a combination of several reforms, fiscal and liquidity measures, finance minister Nirmala Sitharaman today completed the announcement of the last leg of the ₹20 lakh crore economic package. (Prashanth Vishwanathan / Bloomberg)

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Migrant workers and their families wearing protective face masks take shelter from a rainstorm in New Delhi. The government announced steps to support migrant workers and farmers earlier this week, including offering cheap credit and food rations to those affected by a nationwide lockdown to contain Covid-19. (Prashanth Vishwanathan / Bloomberg)

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Motorcyclists drive past an effigy reading "Stay Home" at a police barricade in New Delhi. The central government has announced ₹15,000 crore healthcare funds to fight Covid-19. (Prashanth Vishwanathan / Bloomberg)

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Vehicles travel a road in the Bhajanpura area during lockdown. India will open up its space facilities, mineral blocks and power distribution to private companies, as it seeks new investments to help shore up an economy hit by the coronavirus pandemic. (Prashanth Vishwanathan / Bloomberg)

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Stores are shuttered at Connaught Place during lockdown in New Delhi. Sitharaman announced that the Centre has allocated an additional amount of Rs 40 thousand crores under the Mahatma Gandhi National Rural Employment Guarantee Scheme and various steps have been taken to enhance the ‘ease of doing business’ in the country. (Prashanth Vishwanathan / Bloomberg)

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A security guard wearing a protective mask sits at the entrance of an Indian Bank branch at Connaught Place. The finance minister detailed the break-up of the ₹20 lakh crore package which includes liquidity measures of ₹8 lakh crore announced by the RBI earlier as well as the PM Gareeb Kalyan Yojna. (Prashanth Vishwanathan / Bloomberg)

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Barricades stand across Rajpath as the India Gate monument stands in the background in New Delhi. “Investment at the grassroots level will be ramped up for health and wellness centres with particular focus on aspirational districts. All districts will have infectious diseases block in hospitals. Public health labs will be set up at block levels,” Sitharaman announced. (Prashanth Vishwanathan / Bloomberg)