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COVID-19 Update- PM Modi Announces Economic Relief Package Worth 20 lakh cr
3 years ago
The Prime Minister of India Narendra Modi in his nation address on Tuesday announced an economic relief package and gave an inspiring call for Atmanirbhar Bharat. The PM Modi announced Rs 20 lakh crore economic relief package to help India tide over the challenges posed by the coronavirus crisis and said the stimulus package will be, worth 10% of India’s GDP, will help in the mission to make the country self-reliant. The finance minister Nirmala Sitharaman will give more details about the package on Wednesday.
The relief package will focus on four areas to Liquidity, Land, labor, and law to fight economic distress. Special attention has been given to MSME, small business, and co-operative business. The new economic package empowers everyone with a focus on street vendors and labor, who tend to get neglected. This package is for those who will take India forward. The package will have important announcements for every sector that has been touched by the coronavirus.
PM Modi said India’s self-reliance strategy will stand on five pillars:
- Economy
- Infrastructure
- Technology-driven
- Demography
- Demand
The economic package will boost “Make in India”. The package will include easy and transparent taxation, strengthen the financial system, and will create a better human resource.
During the COVID-19 crisis, local suppliers have met our demands; PM Modi has urged people of the nation to be ‘vocal for the local’ and use locally made products and propagate them too.
In the last PM, Modi said we have to be stronger, save ourselves and keep moving forward at the same time. The 21st century will belong to India, but this is not just a dream but our responsibility too, and to achieve it there is only one way: “self-reliant India”.
The PM said Lockdown 4.0 will be entirely different and will have new rules. It will be based on suggestions by the states and details will be informed by May 18. “We will fight and will move forward by following rules.
