PM Modi announces Rs 20 lakh crore Package to fight Economic Distress

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TNI Bureau: Prime Minister Narendra Modi has announced a massive Rs 20 lakh crore relief package, almost 10% of the GDP to fight the economic distress in the country.

“The special economic package is for the labourers, farmers, honest tax payers, MSMEs and cottage industry. It will have emphasis on land, labour, liquidity and laws”, the PM announces.

Details of the stimulus package for Farmers, Labourers, MSME and Middle Class will be shared by FM Nirmala Sitharaman on May 13.

The PM called for a self-reliant India that would march ahead by creating an opportunity out of the crisis adding India’s self-reliance will be based on five pillars — economy, infrastructure, technology driven system, vibrant demography and demand. Supply chain demand must be utilised to the fullest and all stakeholders must unite, he added.

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The PM cited how no PPE was being manufactured in India prior to Corona crisis, but the country is now producing over 2 lakh PPEs and 2 lakh N95 masks on a daily basis.

“This era of self-reliance will be our new pledge and new festival; we have to move on with new resolve. The 21st century will be of India’s,” says PM Modi while recalling India’s long history in fighting the crisis and emerging victorious. He also remembered how he led the fightback as Gujarat CM after 2001 Kutch Earthquake.

“Coronavirus is going to be part of our lives for long time, but we can’t let our lives revolve around it only. We need to move on to face other challenges in life while taking all precationary and preventive measures, ” he added.

The PM also announced that Lockdown 4.0 will be completely different and based on States’ suggestions. Details will be announced before 18th May.

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