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MASSIVE: PM Modi announces economic package of Rs.20 lakh crore worth 10% of India’s GDP

MASSIVE: PM Modi announces economic package of Rs.20 lakh crore worth 10% of India’s GDP
In The News

In a massive announcement on Tuesday, Prime Minister Narendra Modi announced a financial package worth Rs.20 lakh crore which is equivalent to 10% of India’s Gross Domestic Product to boost self-reliance. The details of the package shall be announced by Union Finance Minister Nirmala Sitharaman on Wednesday, May 13. The PM mentioned that this would benefit the workers, hawkers, street vendors, farmers, the business class, etc.

“I announce a special economic package today. This will play an important role in the ‘Atmanirbhar Bharat Abhiyan’. The announcements made by the govt over COVID, decisions of RBI & today’s package totals to Rs 20 Lakh Crores. This is 10% of India’s GDP”, PM Narendra Modi said.

In his address, he also stated that there were 5 pillars of a Self-Reliant India:-
1. Economy- An economy not satisfied by incremental gains, one that begets quantum jumps

2. Infrastructure- that becomes the identity of the country

3. A system, that isn’t dilapidated from the 20th century, but a tech-driven behemoth

4. Our demography, our strength, the engine of Self-Reliant India.

5. Demand – the supply-demand cycle being used at full potential.

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