Prime Minister Narendra Modi addressed the nation on 12 May at 8 PM and the focus of the speech was on “Aatmanirbhar bharat” a self-reliant nation. He announced an economic package totaling Rs 20 lakh crore to tide over the Covid-19 crisis under ‘Aatmanirbhar Bharat Abhiyan’. The Rs 20 lakh crore package includes the government’s recent announcements on supporting key sectors and measures by Reserve Bank of India.
“I announce a special economic package today. This will play an important role in the ‘Aatmanirbhar Bharat Abhiyan’. The announcements made by the government on Covid-19, decisions of RBI and today’s package totals to Rs 20 lakh crore. This is 10 percent of India’s GDP,” PM Narendra Modi said.
Finance Minister Nirmala Sitharaman will announce the details of the 20 Lakh Crore Economic Package at 4 pm on May 13.
PM Modi said India produces more than 2 lakh N95 and PPE Kits masks each day, India has transformed the emergency to a possible opportunity which is an epitome of self-reliant India. India believes in “vasudhaiva kutumbakam”, ‘world is one family’. India’s progress has always included the world’s progress at large.
The following are the highlights of PM’s speech aimed at the Aatmanirbhar Bharat or the self-reliant India Package which is worth Rs. 20 Lakh Crore i.e. 10% of India’s GDP-
- Pillars of “Aatmanirbhar Bharat”
- 20 Lakh Crore Economic Package for Atamanirbhar Bharat Abhiyan
- Vocal for Local
- Lockdown 4.0.
On the labour reforms front, nine states have already tweaked laws to increase working hours. Madhya Pradesh, Uttar Pradesh and Gujarat have also announced the suspension of labour laws for new companies for nearly three years. An overhaul of central labour laws is also expected to follow suit.
“The package will focus on land, labour, liquidity and law; it will help small businesses, labourers, farmers, the middle class and cottage industries. It will focus on the well-being of migrant workers too,” said the PM.
“Day labourers, migrant workers have suffered much in this period. It is our duty now to do something for them”, he added.
Further, Lockdown 4.0 rules and regulations will be announced soon before May 17.