PM Modi aims for ‘Aatma Nirbhar Bharat’, announces 20 lakh crore financial package

Addressing the nation on the coronavirus situation for the fifth time, Prime Minister Narendra Modi announced an economic package of Rs 20 lakh crore which will be 10% of India’s GDP. This economic package is for the MSMEs and ‘honest tax payers’. The 20 lakh crore package includes RBI relief measures and Finance Minister Nirmala Sitharaman will give more details about the package. Starting from tomorrow, the FM will make announcements on the economic package.

The package will increase efficiency of all sectors and improve quality. PM also spoke on issues related to the economy. He said that economic-centric globalisation vs human centric globalisation, is the talk today.

There are five pillars to a self-reliant economy, PM Modi said. “Economy is our first pillar, which will bring in a quantum jump. The second pillar is infrastructure. The third pillar is our tech-driven system. India’s demography is the fourth pillar and demand and supply is the fifth pillar.”

PM Modi

Also, PM 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. The details of lockdown 4 will be released before May 18, the PM added.