Published 08:22 IST, May 13th 2020
VP Naidu says 'Aatmanirbhar Bharat' is need of hour, welcomes 20 lakh cr stimulus package
A day after PM Modi pitched for an 'Aatmanirbhar Bharat' (self-reliant India) and announced a 20 lakh crore economic package, VP Naidu has welcomed the step
- Economy News
- 3 min read
A day after Prime Minister Modi pitched for an 'Aatmanirbhar Bharat' (self-reliant India) and announced a 20 lakh crore economic package, Vice President of India Venkaiah Naidu has welcomed the step, terming it as a way to 'revive the economy and boost the efficiency of various sectors.'
He hailed PM Modi's decision as 'bold' and called it the need of the hour. On similar lines with the Prime Minister, he said it is the correct time to realize the dream of Atmanirbhar Bharat. The Prime Minister had on Tuesday said that India will define the 21st century. The VP also said that the relief package will deal with the problems that have arisen due to the unprecedented Coronavirus pandemic.
"I am confident that a focused approach on the five pillars- Economy, Infrastructure, Technology-driven System, Vibrant Demography & Demand—will promote local industries led growth while making India face global competition effectively. I am certain this timely economic package will go a long way in overcoming challenges posed by the unprecedented COVID-19 pandemic," he said.
PM Modi's announcement
Prime Minister Narendra Modi announced a financial package with an aim to make India self-reliant (Atmanirbhar). According to him, the earlier decisions of the Centre along with the new package totals to Rs.20 lakh crore- i.e 10% of India's GDP. 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. He added that special emphasis has been paid to land, labour, liquidity and laws. PM Modi also said that a self-reliant India should be vocal about local so that it can be global. About lockdown extension, he said that citizens will be informed about the new guidelines of Lockdown 4.0 before May 18.
Updated 08:22 IST, May 13th 2020