PM Modi Announces Rs 20 Lakh Crore Special Package for Aatma Nirbhar Bharat Abhiyan

Prime Minister Narendra Modi addressed the nation on 12 May at 8 PM. Addressing the nation five days before the third phase of the nationwide lockdown is slated to be lifted on May 17, PM Modi focussed on “Aatma Nirbhar Bharat” a Self Dependent Nation. In his opening remarks, Prime Minister Modi stressed teamwork, compassion, and statesmanship while dealing with the crisis.

PM Modi said India produces more than 2 lakh N95 masks each day, India has transformed the emergency to a possible opportunity this is a big example of self-sufficient India. India believes in the “vasudhaiva kutumbakam” world is one family. India’s progress has always included the world’s progress at large.

The Prime Minister also announced a complete package worth Rs 20 lakh crore to deal with the economic crisis due to the COVID-19. Finance Minister Nirmala Sitharaman will announce the details of the special economic package from Wednesday.

The Prime Minister emphasized on achieving self-reliance for the country at a time when the pandemic brought the economy to a standstill. He said, “This era of self-reliance will be our new pledge, we have to move on with new resolve.”

Five Pillars of “Atma Nirbhar Bharat Abhiyan”

Prime Minister Narendra Modi said the magnificent building of a self-reliant India will stand on five pillars that will help in strengthening the country. He said, “The supply-demand chain must be utilized to the fullest”. The five pillars of Atma Nirbhar Bharat Abhiyan are given below:

1. Economy- quantum jump not incremental change
2. Infrastructure- for modern India
3. System- technology-driven for 21st century
4. Demography- vibrant demography as the world’s largest democracy
5. Demand- optimize demand and supply chain in the economy

20 Lakh Crore Economic Package for Atma Nirbhar Bharat Abhiyan

The package is 10% of India’s GDP and is of 20 Lakh Crore to make India self-sufficient. PM Narendra Modi in his address to the nation said,Special economic package will have emphasis on land, labour, liquidity and laws.” The package focuses on Land Labour Liquidity and Laws. PM has announced that the Finance Minister will give elaborate details about this new economic package with bold reforms from tomorrow, 13 May onwards.

These reforms will focus on strengthening the infrastructure, economy, and business in India. Aatma Nirbharta will help India to excel in the competition of global supply change and the new economic package is made keeping in mind to increase the efficiency and improve the quality of all sectors.

pmo-india

Prime Minister Narendra Modi said the government will announce a special economic package worth Rs 20 lakh crore, which is nearly 10 percent of the GDP. He said the package will focus on land, labor, liquidity, and laws. The PM further said Finance Minister Nirmala Sitharaman will announce details of the special economic package beginning Wednesday, May 13th.

Local to Global Produce

To strengthen local markets, PM Modi said local suppliers have met ‘our demands’ during this crisis and now Indians will have to be ‘vocal about local’ and buy products from them. “The Covid-19 pandemic has taught us the importance of local supply chains very well. The global brands we see today were once local, they grew after their countrymen supported them. From today, all Indians should become vocal for our local products,” he said.

Scientists and Experts have said that coronavirus pandemic is going to stay a threat for a while but we cannot let the economy down.

Lockdown 4.0

PM Narendra Modi said the next lockdown, i.e.Lockdown 4.0 will be different with new rules and people will be informed about it before May 18, Monday. The present lockdown will come to an end on Sunday, May 17th. “We will wear masks and maintain social distancing but we will not let it affect us. So lockdown 4 will be in a new form with new rules,” he said.

Addressing the nation for the fifth time since the coronavirus outbreak, he said that Lockdown 4.0 will be different and will have new rules. “You will be informed about it before May 18,” PM Modi said. The Prime Minister also said scientists believe the coronavirus will be a part of our lives for a very long time, “but we can’t let our lives remain confined around corona”.

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