Asking people to sacrifice “some weeks of yours, some time of yours”, Modi said given that coronavirus has no cure yet, the only way to stay safe is to stay indoors.

The health cover is priced affordably at a premium of Rs149 and provides a sum insured of Rs. 25,000 includingvalue added benefits such as Health Assistance and CHAT/Virtual assistance, tele-consultation and ambulance assistance, as part of the offering.

The unique benefit of the COVID-19 protection cover is the coverage across of the age group of 18-75 years,covering the elderly population that is said to be majorly impacted by the virus.

Meanwhile,according to media reports, the Union government is planning to give unemployment benefits to a section of organised workers who have lost their jobs due to the coronavirus pandemic.

The Nifty slipped below 8,500 to hit a fresh 3-year low but pared some losses to close 5.5% lower at 8,468.80. The benchmark Sensex tumbled 5.59% to 28,869.

“Coronavirus has hitherto not impacted the Indian economy yet export sector has started feeling the pinch with many requests from buyers to hold back shipments till further instructions. We feel that a significant number of such requests may eventually lead to cancellation of orders,” it said.

India has reported 169 cases of Covid-19 till now, as per government figures. A case of community transmission in Tamil Nadu indicated the numbers could go much higher.After sinking over 2,152 points, the BSE barometer was trading 1812.19 points or 6.28 per cent lower at 27,057.32 at 0930 hours.

The coronavirus has infected over 200,000 people and caused nearly 8,500 deaths in 164 nations, triggering emergency lockdowns and injections of cash unseen since World War Two. In India more than 150 people have been infected and three have died.

An enormous first-quarter shock in China, shutdowns across the US and Europe, and local virus transmission guarantees a deep recession across Asia-Pacific, said Shaun Roache, chief Asia-Pacific economist at S&P Global Ratings.