More than $2 billion will be pumped into the NSW economy to counter the financial havoc caused by the global coronavirus pandemic, with Premier Gladys Berejiklian vowing to pursue a "no regrets" policy.
The number of COVID-19 cases in NSW, meanwhile, has surpassed 200.
Ms Berejiklian will push a $2.3 billion stimulus package, consisting of $700 million for healthcare and $1.6 billion for job creation and tax relief.
Major features include capital works investments, payroll tax relief and waiving charges and licence fees for small businesses.
There has been $700 million earmarked to ramp up COVID-19 testing, establish dedicated fever clinics and double intensive care capacity.
"Our approach in relation to dollars in NSW will be first and foremost to save lives. I don't ever want to look back and think we should have done more," Ms Berejiklian told reporters in Sydney on Tuesday.
"I don't want to look back and say, 'Why didn't we give Health what they asked for?" So the Treasurer went to Health and asked what they need.
"I want a no-regrets policy."
NSW authorities are meanwhile hoping a series of unprecedented measures will help contain the rapid spread of the potentially-lethal infection.
Residents flouting isolation rules can now be slapped with an $11,000 fine or jailed for as long as six months.
NSW Police have also been given the discretion to avoid stationary drug and alcohol testing if they believe it is unhygienic.
Ms Berejiklian said parliament would need to meet to enact laws but would take the appropriate social distancing measures.
"Obviously we will have fewer members there. We will respect the social distancing advice we're getting from Health," Ms Berejiklian said.
"I don't think anybody will disagree with the fact that if we need to pass urgent legislation, we need to do that."
Health Minister Brad Hazzard says the state is on track to experience a "substantial exponential increase" in coronavirus infections.
Lobby group Business NSW embraced the government's economic stimulus measures, saying they would aid the business community.
"Of immediate benefit will be the deferral of payroll tax payments for three months for businesses with a payroll of under $10 million and the extension of the payroll tax threshold to $1 million from July 1, which was a specific request of Business NSW," chief executive Stephen Cartwright said in a statement.
"These are unprecedented times and we all understand the need for drastic support measures to safeguard our business and broader community."
The number of confirmed cased of COVID-19 in NSW almost doubled over the weekend and on Tuesday morning reached 210.
RSL NSW on Monday decided to cancel all public Anzac Day services across the state. The Sydney Writers' Festival has also been cancelled, as has Australian Fashion Week in Sydney in May.
There are now more than 300 coronavirus cases across Australia.
