Prime Minister announces Economic Package of Rs 20 Lakh Crore

 

As the whole world is fighting against the COVID-19 pandemic, Prime Minister of India Narendra Modi addressed his countrymen and announced an Economic Package of Rs 20 Lakh crore, giving stress on land, labour, liquidity and law. Details of the Economic Package will be revealed very shortly by the Ministry of Finance. This package will intend to support farmers, labourers, fishermen, migrants and the industry of the country. Through this package, PM announced to ensure the rural India from the COVID-19 pandemic.

During his speech, PM stressed on the local products and urged his countrymen to be “Vocal About Local”. He also mentioned that details of the phase-IV of the lockdown will be shared before 18th May, 2020. He stated that Phase-IV of the lockdown will be different from the earlier ones and will be redesigned with new rules.

Prime Minister also mentioned 5-Pillars to make India self-reliant. These 5 pillars are:

1. Economy: An economy that brings quantum jump along with incremental change.
2. Infrastructure: An infrastructure that becomes the symbol of modern India.
3. System: A system which will be based on technology.
4. Demography: A vibrant demography which would be the strength as well as the source of energy for self reliant India.
5. Demand: To improve demand and supply chain in India to enhance the Indian economy.

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