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PM Modi Announces ₹20 Lakh Crore COVID-19 Relief Package, Stresses On Self-Reliance, Promotion Of Local Goods
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India, 13 May 2020 4:35 AM GMT
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Finance Minister Nirmala Sitharaman will soon announce the details of Rs 20 lakh crore package, which would help every section including workers, farmers, middle class and industrial units.
Prime Minister Narendra Modi in his address to the nation on May 12 announced that India's combined economic package would be worth Rs 20 lakh crore or 10% of GDP, which would make India self-reliant. This was
According to an Indian Express report, the third phase of lockdown is scheduled to end on May 17, the Prime Minister announced that the fourth stage will see new rules in place, the details of which will be drawn up on the basis of suggestions from the state chief ministers, would be announced by May 18.
Finance Minister Nirmala Sitharaman will soon announce the details of Rs 20 lakh crore package, which would help every section including workers, farmers, middle class and industrial units.
In his fifth address to the nation, the PM said that the package will play an important role in making India 'Atmanirbhar Bharat Abhiyan' (Self-reliant India Campaign).
He further said that self-reliance would be based on five pillars — an economy that takes quantum jumps, not incremental gains; modern infrastructure; a technology-driven system; vibrant demography; and a demand and supply chain.
"We have realised the importance of local manufacturing and local supply chain, which met our demands and saved us during this crisis. Brands that are global were once local, but it became branded when people used it and promoted it. We should now be using local and we should be vocal about local," the PM said.
"One virus has destroyed the world. This is an unprecedented crisis. But we cannot get exhausted, give up or break. We have to protect ourselves and move ahead as well. Our resolve should be bigger than the crisis," Modi said.
Stating that India has transformed the crisis into an opportunity, he said, "Not a single PPE kit was being made in India before the crisis. Now we are manufacturing two lakh PPEs and N95 masks each daily."
He also cautioned Indians that the virus is here to stay, at least for a while. "But it is important to ensure that our life does not revolve only around it." He said.
Urging people to follow social distancing protocols strictly, he said, "Our fourth stage of lockdown is going to be different. Its contours will be completely different from those seen yet, and the information about it will be communicated before May 18."
Prime Minister's address to nation came a day after he held a video conference with the state chief ministers where the later were wary about lifting curbs on May 17.
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