PM Modi Announces 20 Lakh Crores Package And Lockdown 4

New Delhi: 12th May, 2020

Prime Minister Narendra Modi today announced a Rs 20 lakh crore economic package for what he called “Mission Self-Reliant India” to tide over the coronavirus crisis. “This package is for migrants and farmers who work for the nation day and night, no matter the circumstances,” the Prime Minister said, addressing the nation.
The special economic package would be the main component of “Atma-Nirbhar Bharat (self-reliant India)”, he said.

“The package will focus on land, labour, liquidity and law; it will help small business, labourers, farmers,” the PM said.

Speaking about the coronavirus pandemic, PM Modi said: “A virus has ravaged the world, we have never seen or heard a crisis like this.”

The only way for India to triumph over the crisis was to “strengthen our resolve so that our resolve is even greater than this crisis.”

He said India must realize its potential as the lead player in the 21st century by focusing on its self-reliance.

He listed what he called five pillars for self-reliance: “Economy with potential for quantum jump, infrastructure, technology-driven system, demography and an intelligence-driven supply system.”


PM Modi Announces 20 Lakh Crores Package And Lockdown 4


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India can become self-reliant. This would be based on 5 pillars:

1) Economy: An economy that takes quantum jumps and not 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.
Who could imagine earlier that money sent by government reaches farmers in full? This imagined when there was no transport, offices were shut.
The reform is in a bid to ensure that such a crisis impacts agriculature in the least possible manner. In a bid to enhance Human Resources and bid to strengthen financial system. These reforms will attract investment and help Make in India.

We need to compete for a place in the global supply chain. We must play a big role in global supply chain. Keeping this in mind, various provisions have been made, which will lead to increased efficiency across sectors.

Hawkers, workers, helps – they have faced difficulties in this time and have made sacrifices. Our duty now to make them better off, to work to further their interests.
Keeping this in mind, be it poor, be it workers, be it fishermen, be it from formal or informal sector, certain key announcements will be made.
Local manufacturing, local supply chain: We realize the importance now. Local met our demands, local saved us. Brands that are global were once similarly local. When people used them and these were branded, they became global from local. Its time to be vocal for local.

We need to buy local products and spread the word. I am sure that we can do this. Your efforts have only increased my faith in you. I am proud to recollect that I had asked citizens to buy khadi and to support handloom workers; and in a short time, demand and sales touched record levels. You made it a big brand too. We got the results; and good results.

Scientists and experts say that coronavirus will stay with us for long, but we can’t make our lives revolve around this. We will wear masks, maintain distance, but not lose sight of our targets.

In Lockdown 4.0, we will follow norms, fight COVID-19 and move ahead. It will be based on suggestions by the state. Details will be informed by May 18 after suggestions from state. We will fight and move forward by following rules. Our responsibility to make India a self-reliant India will be powered by the energy of the 1.3 billion population. With new energy and new determination, we need to move ahead. Who can stop us then? We can make India self-reliant; and we will. With faith and hope, I urge citizens to take care of their health and the ones around them.


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May 12, 2020 6:24 PM

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