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Prime Minister Narendra Modi announced a special economic package and said that recent government decisions, RBI decisions combined with the announcement of the financial package on May 12 come to around ₹ 20-lakh-crore, almost 10% of the GDP of India.
There is an unprecedented crisis, but India will not tire or give up the fight against the coronavirus, and stated that “we have to protect ourselves and move on as well.”
The special economic package is for our workers, farmers, honest taxpayers, MSMEs, and the craft industry, the Prime Minister said in a televised address to the nation. India rests on five pillars: economy, infrastructure, governance systems, dynamic democracy and the supply chain, he said.
His speech comes the day after he interacted with chief ministers on May 11 about ways to deal with the spread of the coronavirus and also boost economic activity.
Here are the highlights of his speech:
8.35 p.m.
Prime Minister announces closure 4.0, details to be shared before May 18
“The Corona crisis also taught us the importance of local supply chains, local markets helped us. Time taught us that we must now think locally. Even global brands were once local. When people used it, branded these products, marketed, those products went global from local. We need to be vocal for our local products. Not only buy them but also advertise them.
“Whenever I have asked you something, you have always answered, as was the case when I asked you to buy Khaadi. Sales reached a very fast peak. It is a small but important example of what can be done. This crisis is big but We cannot allow COVID19 to define us.
“Therefore, Lockdown 4 will be of a new type. Based on state suggestions, the details of this will be shared with you before May 18,” says the Prime Minister.
“Sarvam Aatmam Vasham Sukham. What is under his control gives him happiness. We have to move forward with new energy. We and we will make India self-sufficient,” says Narendra Modi.
8.25 p.m.
Daily gambling, migrant workers have suffered a lot in this period, says PM
“Starting tomorrow, FM will give details of this self-sufficiency campaign package. We need to move forward with bold reforms. You must have seen that some of the reforms of the past six years have helped this crisis. Who could have thought that the el Money sent by this government will reach the beneficiaries directly? Especially when everything was closed. The JAM trinity had this effect. We are now expanding these reforms.
“Self-sufficiency is possible with self-confidence and acting hard. To compete in the global supply chain we need to act hard. Friends, this crisis is so great that many systems have been shaken, but at the same time we have witnessed the strength of our workers and the poor. The daily bets, migrant workers have suffered a lot in this period. It is our duty now to do something for them. With this in mind, there are important decisions for them, “said Mr. Modi.
8.20 p.m.
PM Modi announces the financial package of ₹ 20 lakh crore
“If you remember the year 1999 and people were concerned about Y2K, it was the Indian genius that worked. I very clearly remember the devastation of the earthquake in Kutch. And how Kutch stood up again. Today we have the will and the way.”
“Five pillars will underpin this building; 1) Economy that does not speak of incremental change but of a quantum leap. 2) Infrastructure 3) Technologically driven systems 4) Demography is our strength. Source of our energy 5) Demand – we need to fuel demand and every radius in our supply chain must be strengthened.
“This supply chain will have the aroma of our country and the sweat of our workforce.
“Special economic package for India’s independent campaign. This is a package of ₹ 20 lakh crores, 10% of GDP (approximately). Support for our economy will give our campaign a boost. In this package, land, work, liquidity and the laws have been taken into account. Our craft, MSME and village industries have been taken into account. This will be aimed at our farmers and workers, “adds Modi.
8.10 p.m.
The world is convinced that we can contribute to the betterment of humanity: PM Modi
“We are at an important crossroads. This great crisis carries a message and an opportunity. For example: When this crisis hit us the first time, we did not produce a single PPE kit or N95 masks. Now we have reached a stage where we produce 2.5lakh PPE and 2.5lakh N95 masks per day. The definition of self-sufficiency is changing in the world, adds Modi
“From globalized capital to the globalization of human capital. For us, our ethos is Vasudhaiva Kutumbakam. Our definition of self-sufficiency is to include everyone who believes in the earth as a mother. When such a country becomes self-sufficient, prosperity and happiness of the world is included in it. India’s goals and works have an impact on the prosperity of the world. When we finish open defecation, it impacts the world. Our fight against tuberculosis, polio also affects the world. When we send medicines that we produce here, it impacts the world. The world is convinced that we can contribute to the betterment of humanity, “says the Prime Minister.
8.05 p.m.
It is our responsibility to look at this crisis to make the century of this India, says the Prime Minister.
“A virus has wreaked havoc on the world. The entire world is engaged in a war to save lives. We have not seen a crisis like this before. But humanity persists in this fight. We not only have to fight it, but also move forward. This moment of crisis we have to be more determined. Our determination must be greater than the crisis, “says Prime Minister Narendra Modi.
Since the last century we have heard that the 21st century will be the century of India. We have had the opportunity to observe the world order before Corona hit and the current crisis. It is our responsibility to look at this crisis to make the century of this India. The path to this is only one: a self-sufficient India, “adds the Prime Minister.
8.00 p.m.
PM Modi expresses sympathy and condolences to those who have lost loved ones
“It has been more than four months since the world has been fighting the coronavirus pandemic. In this time 3.75 lakh people have died. In India we have also lost people. My condolences and condolences to those who have lost loved ones” says Prime Minister Narendra Modi.
Full exit from blockade not possible, PM Modi tells CM on May 11
Prime Minister Narendra Modi said in a video conference with chief ministers on Monday that the blockade would continue in one form or another even after May 17, but that state governments should send their plans to increase economic activity in green areas. of their states. May 15-17, for the consideration of the Center.
The focus should be on reducing transmission speed, says PM Modi
Prime Minister Narendra Modi said Monday that reducing the transmission rate of the new coronavirus and gradually increasing public activities while adhering to all the guidelines are “double” challenges and now the Center and states will have to work. to achieve the twin goals.
Blockade extended until May 17
In his March 19 speech, the Prime Minister announced a “blackjack curfew” on March 22. On March 24, it announced a 21-day national shutdown. On April 14, he extended the period of confinement until May 3. On April 3, in a video message, Mr. Modi asked the nation to light lamps for the frontline crown warriors on April 5.
The closure lasted until May 17 by the Ministry of the Interior.
(With PTI tickets)
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