PM Modi announces Rs 20L crore economic package

Modi Speech today live : Prime Minister Narendra Modi, during his address to the nation today, said that coronavirus will continue to remain a reality for some more time.

In his fifth address to the nation following coronavirus outbreak, Prime Minister Narendra Modi on Tuesday announced a special economic package.

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The earlier packages announced by the Ministry of Finance and the Reserve Bank of India (RBI) combined with today’s financial package announcement come to around Rs 20 lakh crore, which is around 10 per cent of India’s GDP.

The special economic package is for farmers, honest taxpayers, labourers, MSMEs and cottage industry, said the PM.

PM Modi speech today: Highlights

  1. Addressing the nation, the Prime Minister insisted on making India self-reliant in every way. “Making India self-reliant is the only way to make the 21st century belong to India. India’s self-reliance addresses concerns about the world’s happiness and peace…We have to turn crisis into opportunity,” asserted PM Modi. 
  2. The PM added that guidelines related to the fourth phase of lockdown will be announced before May 18. He, however, hinted that lockdown 4.0 will be “totally new, totally different”.
  3. PM Modi also urged the countrymen to buy local products and be vocal about it. Giving ‘local ke liye vocal banna hai‘ mantra, the Prime Minister noted that all the global brands were once local only. 
  4. Calling the COVID-19 as an unprecedented crisis, the PM asserted that India will neither get tired nor give up in the fight against coronavirus. “A pandemic like this is unprecedented and unimaginable. But we can’t stop, lose or get defeated. We must follow all rules, stay safe and move forward,” said the PM, adding: “Our resolve has to be bigger than the crisis.”
  5. “Humanity will not accept defeat from the pandemic,” the PM said. “The humankind will not deter. We will have to further firm up our resolve, protect ourselves and march forward,” he added.
  6. The magnificent building of a self-reliant India will stand on five pillars – economy, infrastructure, governing systems, vibrant democracy and supply chain.
  7. When the crisis started, India did not manufacture even a single PPE (Personal Protective Equipment) and only a few N95 masks were available. “Today, two lakh PPE kits and two lakh N95 masks are manufactured in India daily.” The country has the ability, sources and world’s best talent and can make the best products, said the PM.
  8. The Prime Minister noted that Indian medicines have come out as a ray of hope during these challenging times. “Due to this step, India is being praised across the world and the Indians feel proud. The world has started believing that India can perform much better.”
  9. Referring to COVID-19, the PM stated that one virus has turned the world upside down. “All the countries across the world are struggling to save lives,” added the PM.
  10. Saying that since experts opine that coronavirus will stay for a longer period, the PM said it is important to fulfil aims.
  11. The PM also expressed his condolences to the families who have lost their loved ones to COVID-19
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