COVID-19: PM Modi Takes Relief Package Up To Rs 20 Lakh Crore

NEW DELHI: Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore stimulus package to tackle the impact of coronavirus and weeks of lockdown. India would not be controlled by the virus, he said, also announcing “lockdown 4” after May 17 in a “completely different form”, with new rules.

The special economic package, equivalent to around 10 per cent of India’s GDP, would be the main component of “Aatma Nirbhar Bharat” or self-reliant India, the Prime Minister said, addressing the nation for the third time since he announced a total lockdown in late March.

He said the package would provide relief to almost every segment of the population. He added that the details of the package would be announced in the next few days by the Finance Minister.

Prime Minister Modi also appreciated the sacrifices and commitment of migrant workers, labourers and others facing the virus outbreak. He said that Coronavirus is going to be a part of people’s lives for a long time, but lives cannot simply revolve around it.

He added that Lockdown 4 will be different and have new rules and the people will be informed about it before May 18.

PM Modi said that in a world that is fighting life and death, India’s medicines have brought new hope. He added that every Indian feels proud when India is praised everywhere in the world. He appealed to Indians to come forward and take on the responsibility of building a self-reliant India.

Finance Minister Nirmala Sitharaman will address a series of press conferences in the coming days to give further details, he said.

The package may include the wage bill of companies as an incentive to retain their employees. There may also be provisions for migrant labourers and the self-employed.

from League of India