COVID-19: PM Modi announces Rs 20 lakh crore economic package

New Delhi,12 May: Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore package, which combined the government’s recent announcements on supporting key sectors as also measures rolled out by the Reserve Bank of India.

Highlights of the speech

One virus has destroyed the world, says Prime Minister Modi.

“This is an unprecedented crisis; we have to protect ourselves and move ahead as well,” PM Modi said.

“Making India self-reliant is only way to make 21st century belong to India,” he said.

India didn’t produce any PPE before COVID-19 crisis and manufactured very few N-95 masks; now we are producing 2 lakh of each: PM Modi

India’s self-reliance addresses concerns about world’s happiness, cooperation and peace: PM Modi 

Medicines supplied by India have infused new hopes in the world which is fighting battle of life and death: PM Modi

India has resources and talent, it will make best products, improve quality and supply chain: PM Modi

India’s self-reliance will be based on five pillars — economy, infrastructure, technology driven system, vibrant demography and demand: PM

I am announcing special economic package which will be key to making country self-reliant: PM Modi

Special economic package will amount to Rs 20 lakh crore which is nearly 10 pc of GDP: PM 

Special economic package will have emphasis on land, labour, liquidity and laws: PM Modi

Beginning Wednesday, finance minister will announce details of special economic package: PM Modi

Special economic package is for our labourers, farmers, honest tax payers, MSMEs and cottage industry: PM Modi

In this hour of crisis, local suppliers have met our demands; Indians have to be ‘vocal about local’ and buy products from them: PM Modi

He said the 4th phase of lockdown will be of new features. 

“States are giving suggestions and before May 18 all will be given details,” the PM said.

Coronavirus going to be part of our lives for long time, but we can’t let our lives revolve around it only: PM

‘Lockdown 4’ will be different and have new rules; you will be informed about it before May 18: PM Modi

This era of self-reliance will be our new pledge and new festival; we have to move on with new resolve: PM Modi

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