Union Finance Minister Nirmala Sitharaman has termed the COVID-19 economic package of Rs 20 lakh crore, announced by Prime Minister Narendra Modi, as a “reform stimulus, a mindset overhaul, and a thrust in governance.”
In a series of tweets, Sitharaman said PM Modi’s vision of a self-reliant India will include everyone a hawker or street vendor, a trader, a MSME, an honest tax paying middle class, a manufacturer and so on.
PM Modi on Tuesday evening announced the most anticipated stimulus package of Rs 20 lakh crore, nearly 10% of country’s GDP, for all segments including industries, workers, farmers, honest taxpayers, MSMEs, cottage industry and others.
Apart from the Reserve Bank of India (RBI) assistance, the government had last month announced a Rs 1.74 lakh crore to provide benefits to the poor, including cash transfers, Rs 50 lakh insurance cover and steps to ensure food security.
Modi also said there will be a fourth phase of the lockdown which will be very different from the earlier three phases. The third phase of the 54-day lockdown is scheduled to end on 17 May.
Modi also hinted at big-ticket economic reforms in coming days, and said beginning Wednesday, Finance Minister Nirmala Sitharaman will announce details of the special economic package.
On PM Modi’s vision of ‘Aatmanirbhar Bharat’, Sitharaman said the idea does not imply “isolationism or becoming exclusionist.” She added that Indian economy has acquired strength in its various dimensions and now India will convert the pandemic challenge into an opportunity.
Meanwhile, Finance Minister Nirmala Sitharaman will announce details of the economic package worth Rs 20 lakh crore, aimed towards achieving the mission of a self-reliant Aatmanirbhar Bharat, at 4 pm today.
According to latest update by the Union Health Ministry, the total count of confirmed coronavirus cases includes 47,480 active cases, 24,385 cured/discharged, 1 migrated and 2,415 deaths.