Published On : Tue, May 12th, 2020

PM Announces Economic Package, Says Lockdown 4.0 Will Have New Rules | Highlights

PM announces Rs 20 lakh cr financial package

Prime Minister Narendra Modi announces Rs 20 lakh crores financial package to fight against deadly the coronaviurs.


“I announce a special economic package today. This will play an important role in the ‘Atmanirbhar Bharat Abhiyan’. The announcements made by the govt over COVID, decisions of RBI and today’s package totals to Rs 20 lakh crores. This is 10% of India’s GDP,” Modi said.

Self-dependent Bharat is the only way: PM Modi

Prime Minister Narendra Modi on Tuesday said that India has to be self-reliant and it is the only way forward in fight against the coronaviurs.

“We have to be self-dependent, it is the only way forward,” the PM said in his fifth address to the nation

Modi further said, “We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. This was unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward.”

“When the crisis started then not even a single PPE kit was manufactured in India, only a few N95 masks were available. Today 2 Lakh PPE kits and 2 Lakh N95 masks are manufactured in India daily,” He added.

Following are the highlights of PM Modi’s Address:

It has been over 4 months that the world is battling coronavirus. 42 lakh have been infected globally. Over 2.45 lakh have died. In India, many have lost their loved ones. I offer my condolences.

One virus has led to global upheaval. Globally, crores of lives at stake.

Entire world in a way, fighting a battle, working to save lives. This is an unprecedented crisis.

Getting exhausted or accepting defeat not an option.

We need to save lives and move forward at the same time.

We have to remain careful and follow rules to live and more ahead. Now that the world is in a crisis, we have to be more resolute. Our resolve will be greater than the crisis.

We need to strengthen our resolve. Since last century, we’ve been hearing that 21st century belongs to India. The global scenario, we are tracking developments. When we see it from India’s prism, it looks like that it is not just a dream, we are responsible to ensure that 21st century belongs to India.

Self-reliance is imperative. Self-reliant India is the only way out.

We stand at a crucial juncture. This crisis has a message for India, an opportunity. I’d try explaining using an example. When the crisis started, not a single PPE kit was made in India, N-95s were produced in negligible numbers. Today, in India, 2 lakh PPEs and 2 lakh N-95s being produced.

India, as this example demonstrates, turned crisis into an opportunity.

The meaning of self-reliance has changed, the global definition is changing. India’s heritage, culture talk about self-reliance, the essence being ‘the world is one’.

India’s self-reliance takes into account global peace and coordination. Our heritage, our motherland, when we become self-reliant, it increases the prospects of safe and prosperous world.

When India became open defecation free, the world changed.

Be it tuberculosis, malnutrition or polio, India’s action impacted the world. International Solar Alliance is India’s gift to world in the fight against global warming. India’s medicines serving as ray of hope in today’s times.

The world has started to believe that we can fare very well, that we can contribute in upliftment of humanity. We have had a glorious past. We were dubbed ‘sone-ki-chidiya’. Times changed, we yearned for development. We are taking steps towards development today.

Today, we have the resources, the will, we have fine talent. We will manufacture best products, improve quality and modernise the supply chain, we can do this and we will.

During Kutch earthquake, there was rubble wherever you looked. Nobody could contemplate back then that things would improve, but Kutch regained and revived. If we pledge, no target is impossible, no route is tough; and today, we have the will.

India can become self-reliant. This would be based on 5 pillars:
1) Economy: An economy that takes quantum jumps and incremental gains.
2) Infrastructure: Infrastructure is synonymous with a modern India.
3) Our system: A system that helps us realise dreams, which is based on tech-driven facilities.
4) Demography: Vibrant demography our strength.
5) Demand: The demand and supply chain, we need to utilise the potential. We need to increase demand in the nation. Each stakeholder must be active.

Announcing a special economic package in a bid to make India self-reliant. An important link. Around Rs 20 Lakh Crore. Around Rs 20 Lakh Crores which is around the10% of GDP. Package addresses sectors on which crores depend for livelihood.

Package for farmers, for workers, who irrespective of circumstances, work for the nation. Package for MSMEs, who pay taxes sincerely and contribute. Package for Indian industry. From tomorrow, Finance Minister Nirmala Sitharaman will inform in detail.

This signifies bold reforms, we must move forward. In last six years, the reforms undertaken, today, in crisis, we are much better off.