Aatma Nirbhar Bharat Abhiyan: PM Announces Rs 20 Lakh Crore Economic Package
Aatma Nirbhar Bharat Abhiyan: In his fifth address to India since the national lockdown, Prime Minister Modi announced a relief package of Rs 20 lakh crore to ease the coronavirus distress.
On Tuesday at 8 pm, Prime Minister Modi, in his fifth address to India since the national lockdown, has announced a financial package of Rs 20 lakh crore to ease the coronavirus distress. The package is announced under ‘Aatma Nirbhar Bharat Abhiyan’ to revive the Indian economy.
Prime Minister in his address stated that this financial package will be 10% of India’s GDP. He further stated that this package includes announcements made by the government on Covid-19, decisions of RBI and ‘Aatma Nirbhar Bharat Abhiyan’ package totalling to Rs 20 lakh Crore.
‘Aatma Nirbhar Bharat Abhiyan’ package will help India in reviving the economy focus on land, labour, liquidity and laws and will benefit farmers, workers, taxpayers, MSMEs and cottage industry. The details of the package will be announced by the Finance Minister Nirmala Sitharaman starting today.
The Prime Minister in his address stated, ‘ To achieve self-reliance, the economic package focuses on land, labour, liquidity and laws. The economic package will help cottage industries, home industry, small-scale industries, MSMEs, which are the means of livelihood for crores of people. This package is also for farmers, who toil in different weather conditions and for the middle class who pay their taxes on time.’
Prime Minister Modi further urged the citizens to buy and promote local products and brands. He stated that global brands were once local too but when people started supporting them, the brands became global. He laid stress on becoming vocal for the local.
Prime Minister Modi did not mention the details on the next phase of the lockdown. However, he informed the citizens about the national lockdown 4 which will come into force with new rules and regulations based on inputs from various states and will be drafted before May 18, 2020.
As per Prime Minister Modi, India’s self-reliance will be based on five pillars — economy, infrastructure, technology-driven system, vibrant demography and demand. When India says self-reliance, it does not advocate for a self-centred system but, there is a concern for the whole world’s happiness, cooperation and peace.