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PM Modi announces economic package worth Rs. 20 lakh crore

Prime Minister Narendra Modi on Tuesday announced a special package of Rs. 20 lakh crore to tide over the economic crisis caused by the Covid-19 pandemic. 

The special economic package, equivalent to 10% of India’s GDP, would be the main component of ‘Aatma Nirbhar Bharat’ or self-reliant India. 

The package includes economic announcements made by the government as well as the Reserve Bank of India in the recent past related to the Corona crisis, he added. 

Modi also said that the package will give a new impetus to the development journey of the country in 2020 and a new direction to the Self-reliant India campaign. 

“In order to prove the resolve of a self-reliant India, Land, Labor, Liquidity and Laws all have been emphasized in this package,” he added. 

PM Modi said, the economic package is for the cottage industry, home industry, our small-scale industry, our MSME, which is a source of livelihood for millions of people, which is the strong foundation of our resolve for a self-reliant India

“Starting tomorrow, over the next few days, the Finance Minister will give you detailed information about this economic package inspired by the ‘Self-reliant India campaign’,” the prime minister added.

This is Modi’s third address to the nation since he announced a total lockdown in March.

“Corona will remain a part of our lives for a long time. But at the same time, we cannot allow this to happen and our lives will be confined only around the corona,” PM Modi said. 

He also announced that there will be a fourth phase of lockdown redesigned, with new rules. 

“Based on the suggestions we are getting from the states, information related to Lockdown 4 will also be given to you before 18 May. I am confident that by following the rules, we will fight Corona and move forward,” Modi added. 

India is standing on five pillars – economy, infrastructure, governing systems, vibrant democracy and supply chain, he added. 

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