March 24, 2020 / 10:58 AM / 15 days ago

India to announce fiscal package to help economy face coronavirus - Sitharaman

India's Finance Minister Nirmala Sitharaman attends a joint news conference with U.S. Treasury Secretary Steven Mnuchin in New Delhi, November 1, 2019. REUTERS/Adnan Abidi/Files

(Reuters) - India’s government will soon announce a fiscal package to help the economy face the impact of the coronavirus, Finance Minister Nirmala Sitharaman said in a video conference with reporters on Tuesday.

Sitharaman relaxed a number of tax compliance rules for individuals and firms and also raised the threshold of triggering insolvency cases to 10 mln rupees from 100,000 rupees currently.

India has reported 482 cases of the coronavirus but health experts have warned that a big jump could be imminent.

Editing by Andrew Heavens

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