PM Modi holds Cabinet meet to discuss strategies to attract foreign investments post COVID

Prime Minister Narendra Modi on Thursday held a meeting with the Cabinet to discuss strategies to attract foreign investments post COVID-19 crisis in an attempt to boost the economy. The Prime Minister directed that action should be taken for a more proactive approach to handhold the investors, to look into their problems, and to help them get all necessary clearances from the state and Centre as well. 

The meeting on Thursday also discussed that a scheme should be developed to promote more plug and play infrastructure in existing industrial lands, plots and estates in the country and provide necessary financing support. The meeting comes three days before the second lockdown is schedule to end. The Central government has hinted at ease in restrictions across the country after May 3. The Home Ministry has also allowed reopening of non-essential shops across the country. 

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COVID crisis in India

The Health Ministry on Thursday informed that in the last 24 hours, 1,718 new cases of COVID-19 have been reported across India, taking the total number of cases to 33,050 while 33,651 people under active medical supervision. "630 patients have also been cured, taking the total case recoveries to 8,324. The recovery rate is now 25.19%, which was 13.06% 14 days ago; and we are observing a progressive recovery rate," the official said.

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The Health Ministry also gave a breakup of the death demography in the country. The fatality rate of COVID-19 stands at 3.2%. Aggarwal said that comorbidities were found in COVID-19 patients in 78% of the deaths. Comorbidities are those pre-existing illnesses a patient already (like diabetes, hypertension) has before contracting a new one.

The ministry also added that India's COVID-19 doubling rate has now increased to 11 days and many states are performing better in this regard. Doubling rate is the number of days in which the number of cases doubles; an important metric to track the trajectory of the viral spread.

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