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

In a massive development on Tuesday, Prime Minister Narendra Modi anunced a financial pack to boost self-reliance. According to him, earlier decisions of Centre along with new pack totals to Rs.20 lakh crore- i.e 10% of India's GDP. However, details of pack shall be anunced by Union Finance Minister Nirmala Sitharaman on Wednesday, May 13. PM mentioned that this would benefit workers, hawkers, street vendors, farmers, business class, etc. He ded that special emphasis has been paid to land, labour, liquidity and laws.

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PM Modi stresses on pillars of self-reliant India

Currently, re are 70,756 COVID-19 cases in India out of which 22,455 patients have recovered while 2293 casualties have been reported. In his dress, PM Modi stated that re were five pillars of a self-reliant India- an ecomy that is t satisfied by incremental gains but one that begets quantum jumps, infrastructure that becomes identity of country, a system that isn't dilapidated from 20th century but a tech-driven behemoth, demography and supply-demand cycle being used at full potential. Mentioning that country has to move ahe while maintaining social distancing measures, he observed that it was responsibility of every Indian to ensure that country gains its true potential in 21st century.

He opined that crisis h been converted into an opportunity. For instance, he cited that India h started producing 2 lakh PPE and 2 lakh masks as compared to past where re was negligible domestic production. He also spoke about enhancing quality of products and better supply chain. Recalling how Kutch resurrected itself after earthquake, he maintained that thing is impossible. ditionally, PM Modi declared that fourth phase of lockdown would have new guidelines which shall be revealed before May 18. 

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