Prime Minister Narendra Modi announces Rs 20 lakh crore economic package for ‘self-reliant’ India

ST Staff
Tuesday, 12 May 2020

PM Modi while declaring the package said, “The economic package for the ‘Aatma Nirbhar Bharat Abhiyaan’ is close to 10 per cent of India’s GDP. The total provision including the last package stands at Rs 20 lakh crore.”

Prime Minister Narendra Modi in an address to the nation on Tuesday announced a special economic package for ‘self-reliant’ India.

PM Modi while declaring the package said, “The economic package for the ‘Aatma Nirbhar Bharat Abhiyaan’ is close to 10 per cent of India’s GDP. The total provision including the last package stands at Rs 20 lakh crore.”

“Starting tomorrow, the Finance Minister will explain you on details about the package meant to determine the nation’s ‘Aatma Nirbhar Bharat Abhiyaan’. The announced package will help India contest at a global scale, and our country will play a crucial role in the global supply chain. Also, the package aims at reforms which will work as armour for our farmers and strengthen Indian industries,” he added.

Commenting on the extension of lockdown, PM Modi explained, “The fourth phase of the lockdown will be different from the previous ones. The announcement for Lockdown 4.0 will be made before May 18.”

PM Modi began his address by offering condolences to those who lost their lives due to the coronavirus outbreak. “We had never seen or heard about such a crisis ever before; thus, this is definitely unbelievable for mankind. But humanity will not accept defeat from

this virus. We have to not only protect ourselves but also move forward. This crisis has given a message for India. It should not be just our vision but also our duty to ensure that the 21st century belongs to India,” said PM Modi.

He said India needs to become self-reliant post-coronavirus. Continuing to address the same issue he said, “When the COVID-19 outbreak started, there was no single PPE kit made in India, just a few N95 masks were available. Today, India manufactures two lakh PPE kits and 2 lakh N95 masks.”

“This era of self-reliant India will be a new fiesta for every Indian citizen and now we all have to move forward with a new force in life and new determination,” he concluded.

On Monday, Modi interacted with Chief Ministers of all states on ways to deal with the spread of the novel coronavirus.

Meanwhile, the country has crossed the mark of the 70,000-mark of COVID-19 cases with over 2,300 deaths.

Related News

​ ​