PM Modi announces economic relief package worth ₹20 lakh cr

This is the PM’s fifth address to the nation, including a video message, following the outbreak of Covid-19.

He last addressed the nation on April 14.

Prime Minister announced a special economic package and gave a clarion call for Atmanirbhar Bharat. PM Modi noted that this package, taken together with earlier announcements by the government during covid-19 crisis and decisions taken by RBI, is to the tune of ₹20 lakh crore, which is equivalent to almost 10% of India’s GDP.

Talking about the positive impact of reforms like JAM trinity and others, brought about in the last six years, Prime Minister said that several bold reforms are needed to make the country self-reliant, so that the impact of crisis such as covid-19, can be negated in future

Here are the highlights from Modi’s address to the nation:

-Based on the suggestions by states, information related to lockdown 4 will be given to you before 18 May: PM Modi

-“Scientists say that coronavirus will be a part of our lives for a very long time. But we can’t let our lives remain confined around Corona. We will wear masks and maintain social distancing but we will not let it affect us. So lockdown 4.0 will be in a new form with new rules,” said Modi

-“Coronavirus going to be part of our lives for long time, but we can’t let our lives revolve around it only,” says Modi

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

-PM Modi pitches for local products: “Every Indian must be vocal for local”

-Special economic package is for our labourers, farmers, honest taxpayers, MSMEs and cottage industry, says PM

-Beginning Wednesday, finance minister will announce details of special economic package

-Special economic package will have emphasis on land, labour, liquidity and laws, says Modi

-I announce a special economic package today. Special economic relief package for the nation will amount to ₹20 lakh crore which is nearly 10% of GDP. The announcements made by the govt over Covid-19, decisions of RBI and today’s package totals to ₹20 lakh crore. This will play an important role in the ‘Atmanirbhar Bharat Abhiyan’, said PM

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

-“India has resources and talent, it will make best products, improve quality and supply chain”

-“Medicines supplied by India have infused new hopes in the world which is fighting battle of life and death. With these steps, when India is being praised everywhere in the world, every Indian feels proud”

-“When India speaks of self-reliance, it does not advocate for a self-centered system. In India’s self-reliance there is a concern for the whole world’s happiness, cooperation and peace”

-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 of them, says Modi

-Making India self-reliant is only way to make 21st century belong to India, says PM Modi

-“Today when the entire world is in crisis, we will have to further firm up our resolve”

-“More than 2.75 lakh people have lost their lives due to the virus. In India too many families have lost their dear ones, I express my condolences to them”

-“We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. This was unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward”

-“A virus has ravaged the world, we have never seen or heard a crisis like this”

-The world has been fighting coronavirus for 4 months now: PM Modi

-Coronavirus affected 42 lakh people globally, says Modi

–Earlier today, Modi approved ex gratia of ₹2 lakh each to the kin of the 16 migrant labourers who were run over by a goods train in Maharashtra’s Aurangabad on May 8.