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Published On: Tue, May 12th, 2020

PM Modi announces ‘economic package for self-reliant India

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PM ModiNEW DELHI : Prime Minister Narendra Modi said that the lockdown would be extended for the fourth time. He said that the decision was taken after speaking to various chief ministers. Experts opine that coronavirus will stay for a longer period. The details of lockdown 4 will be released before May 18, He added.
PM Modi on Tuesday announced a special economic package. The economic package will focus on land, labour, liquidity and laws and includes the monetary easing announced by the Reserve Bank of India.
Spelling out the details, PM said that the self-reliant strategy will depend on five pillars, growing a new economy, creating a state-of-the-art infrastructure, setting up a technology-based delivery system, leveraging the young demography and by exploiting domestic demand.
He said “this will play an important role in the ‘Atmanirbhar Bharat Abhiyan’. The announcements made by the government regarding COVID-19, decisions of Reserve Bank of India and today’s package totals Rs 20 lakh crores. He said that it is 10% of India’s GDP.

He said the country needs an economy that brings quantum jump, not incremental change. He also announced a financial package to help the MSME sector. MSMEs and the “honest taxpayers.” “Starting tomorrow, the finance minister will apprise you in detail about the package meant to drive towards ‘Atma-nirbhar Bharat Abhiyaan’.
The PM says that self-reliance is the only way forward, but also does not mean a self-centrist approach. “We have to be stronger. We have to save ourselves and keep moving forward at the same time,” he says, adding, “We have been hearing that 21st century will belong to India, but this is not just a dream but our responsibility too.

The PM also urged the countrymen to buy local products and be vocal about it. Giving ‘local ke liye vocal banna hai‘ mantra, the Prime Minister noted that all the global brands were once local only.
India as a country is at an important stage. Such a big calamity has given an indication, a message, an opportunity. When coronavirus problem began, India was not producing PPE kits. N-95 mask production was very low. Now, the country is producing 2 lakh PPE kits, 2 lakh N-95 masks daily said the PM.

 

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