FM Sitharaman to address media at 4 pm to share the details of the Rs 20 lakh crore economic package announced by PM, which would help every section including workers, farmers, middle class, honest tax payers, MSMEs and cottage industry and industrial units.
Prime Minister Narendra Modi announced the Atma-nirbhar Bharat Abhiyan (or Self-reliant India Mission) and announced a Rs 20-lakh-crore stimulus package, equivalent to about 10% of India’s GDP, aimed at making the country self-reliant and reviving the stalled economy.
“These reforms include supply chain reforms for agriculture, rational tax system, simple and clear laws, capable human resources and a strong financial system,” he said. “These reforms will promote business, attract investments, and further strengthen ‘Make in India’.”
“The package will have emphasis on land, labour, liquidity and laws, and will pave the way for a self-reliant India,” PM Modi said
“This package is for that worker in the country, that farmer, who is working hard day and night; for the Indian middle class, for the industry which is committed to make India stronger.”
“Time has taught us that we must make ‘local’ the mantra of our lives. Global brands that are there today were once local too, but when people there started supporting them, they became global. That is why from today, every Indian must become vocal for our local,” the PM said.
Prime Minister Narendra Modi has announced that a “new lockdown” will continue beyond the end of the current phase on 17 May, but that the government will provide a massive special economic package to revive the economy that has been battered by the Covid-19 pandemic.