Prime Minister Narendra Modi has announced a special economic package, and said the recent decisions by the government, the decisions by the RBI combined with the May 12 financial package announcement come to about ₹20-lakh-crore — nearly 10% of India’s GDP.
There is unprecedented crisis but India will neither get tired nor give up the fight against coronavirus, and asserted that “we have to protect ourselves and move ahead as well“.
Special economic package is for our labourers, farmers, honest tax payers, MSMEs and cottage industry, the Prime Minister said in a televised address to the nation. India is standing on five pillars — economy, infrastructure, governing systems, vibrant democracy and supply chain, he said.
His speech comes a day after he interacted with Chief Ministers on May 11 on ways to deal with the spread of coronavirus and also boost economic activity.
Here are the highlights from his speech:
8.35 p.m.
Prime Minister announces lockdown 4.0, details to be shared before May 18
“Corona crisis has also taught us the importance of local supply chains, local markets has stepped into help us. Time has taught us that we have to now think local. Even global brands were once local. When people used it, branded these products, marketed them, those products became global from local. We need to be vocal for our local products. Not just buy but also publicise them.
“Whenever I have asked anything of you , you have always responded, as in the case of when I asked you to buy Khaadi. Very quickly sales peaked. It is a small example but important on what can be done. This crisis is big but we cannot allow COVID19 to define us.
“Thus Lockdown 4 will be of a new kind. Based on suggestions from the states details of this will be shared with you before May 18, says the Prime Minister.
” Sarvam Aatmam Vasham Sukham. That which is in your control gives you happiness. We have to move ahead with new energy. We and we will make India self reliant,” says Narendra Modi.
8.25 p.m.
Daily wagers, migrant labourers have suffered much in this period, says PM
“From tomorrow, FM will give details of this Self Reliance campaign package. We need to go forward with bold reforms. You must have seen that some