New Delhi, May 12 : Focussing on a 'self-reliant India', Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore economic package, which is about 10 percent of the country's GDP, to bring about holistic reforms to reboot the nation.
Recalling those who have died battling the Covid-19 pandemic, the Prime Minister said the crisis that has emerged due to COVID-19 is unprecedented, but in this battle, the country not only needs to protect itself, but also has to keep moving forward. In his 32-minute address to the nation, Mr Modi announced five pillars -- economy, Infrastructure, tech-driven system, vibrant demography and demand & supply chain -- for sustenance and a self-reliant India.
''A self-reliant India will stand on five pillars -- Economy, which brings in quantum jump and not incremental change; Infrastructure, which should become the identity of India; System, based on 21st century technology driven arrangements; Vibrant Demography, which is our source of energy for a self-reliant India; and Demand, whereby the strength of our demand and supply chain should be utilized to full capacity.'' He underlined the importance of strengthening all stakeholders in the supply chain to increase, as well as fulfill, the demand.
Mr Modi said on the basis of recommendations received from states, new guidelines of Lockdown 4.0 will be framed, and information about the same will be conveyed before May 18. The nationwide lockdown imposed to curb the spread of Covid-19 pandemic, started on March 25 for three weeks, and was later extended twice -- till May 3 and May 17. In his fifth lockdown address, the Prime Minister announced a special economic package and gave a clarion call for 'Atma-nirbhar Bharat'. He noted that this package, taken together with earlier announcements by the government during Covid crisis and decisions taken by the RBI, is to the tune of Rs 20 lakh crore, which is equivalent to almost 10 per cent of India’s GDP.
Recalling the devastation in Kutch after the earthquake, the Prime Minister said that through determination and resolve, the area was back on its feet. A similar determination is needed to make the country self-reliant, he stressed. He noted that the world trusts that India has a lot to contribute towards the development of the entire humanity. Mr Modi pointed out that all demands during the crisis were met ‘locally’. ''Now, it’s time to be vocal about the local products and help these local products become global,'' he said. More (UNI)