Mumbai: Finance Minister Nirmala Sitharaman said that the government is preparing an economic package, which will be announced soon to deal with the economic downturn affecting the Indian economy due to the coronavirus pandemic.
She said the last date for filing income tax return for the year 2018-19 has been extended from March 31 to June 30, 2020.
“Work is going on and we are very close to coming up with an economic package that will be announced sooner rather than later,” she stated.
She said that the rate of interest has been reduced from 12 per cent to 9 per cent for the delay in payment.
The International Monetary Fund has stated that the epidemic will cause a global recession in 2020 and will worsen like the financial crisis of 2008.