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."
Lobby group Business NSW embraced the government's economic stimulus measures, saying they would aid the business community.
Health Minister Brad Hazzard says the state is on track to experience a "substantial exponential increase" in coronavirus infections.
The number of confirmed cased of COVID-19 in NSW almost doubled over the weekend and on Tuesday morning reached 210.
Mr Hazzard on Monday said the virus "has very much a mind of its own".
"It knows that at the moment across the world it's winning the battle, here in NSW I think we're holding the line, but we still need to do a lot more work as it evolves," he told reporters in Sydney.
Meanwhile, major public events across the state continue to be cancelled or postponed.
The Sydney Opera House on Monday announced on Facebook all public performances will be cancelled until 29 March, after which time the situation will be re-evaluated.
Australian Fashion week, which was set to celebrate 25 years of celebrating Australian designers in May at Sydney's Carriageworks, has also been cancelled.
Popular music festival Splendour in the Grass, which was scheduled for July in northern NSW, announced on social media on Monday its 20th-anniversary festival would be postponed until October.
Groovin the Moo music festival was scheduled to run over three weekends at the end of April and beginning of May across regional Australian centres including in Maitland, in NSW's lower Hunter Valley.
However, organisers announced on Monday on social media the festival had been cancelled outright.
RSL NSW on Monday decided to cancel all public Anzac Day services across the state.
The Sydney Writers' Festival has also been cancelled.
It comes as Macquarie University in Sydney's northwest has suspended classes from 18 March with teaching to resume on 30 March.
Staff will use the time to transition to online teaching as the university prepares to deliver most classes online when classes resume on 30 March, a spokeswoman told AAP in a statement.
All non-essential university events scheduled to be held between 23 March and 18 April will also be cancelled or postponed.
Coronavirus symptoms can range from mild illness to pneumonia, according to the Federal Government's website, and can include a fever, coughing, sore throat, fatigue and shortness of breath.
There are now more than 375 coronavirus cases across Australia.
As of Tuesday afternoon, only people who have recently travelled from overseas or have been in contact with a confirmed COVID-19 case and experienced symptoms within 14 days are advised to be tested.
If you believe you may have contracted the virus, call your doctor, don’t visit, or contact the national Coronavirus Health Information Hotline on 1800 020 080.
If you are struggling to breathe or experiencing a medical emergency, call 000.
