Addressing the nation today, the Prime Minister Narendra Modi announced a special economic package and gave a clarion call for Atmanirbhar Bharat. 

 

This economic package taken together with earlier announcements by the government during COVID crisis and decisions taken by RBI is to the tune of Rs. 20 lakh crore, which is equivalent to almost 10% of India’s GDP. 

 

He said that the package will provide a much needed boost towards achieving ‘Atmanirbhar Bharat’ and will focus on land, labour, liquidity and laws. It will also cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others. 

 

He informed that the details of the contours of the package will be provided by the Finance Minister from tomorrow, in the coming few days.

 

Prime Minister Narendra Modi said, "A self-reliant India will stand on five pillars - Economy which brings in quantum jump and not incremental change; Infrastructure which should become the identity of India; System based on 21st century technology driven arrangements; Vibrant Demography which is our source of energy for a self-reliant India; and Demand whereby the strength of our demand and supply chain should be utilized to full capacity and importance of strengthening all stakeholders in the supply chain to increase, as well as fulfill, the demand."

 

The Prime Minister said that several bold reforms are needed to make the country self-reliant, so that the impact of crisis such as COVID-19 can be negated in future. These reforms include supply chain reforms for agriculture, rational tax system, simple and clear laws, capable human resources and a strong financial system. These reforms will promote business, attract investment, and further strengthen Make in India.

 

The Prime Minister remarked that self-reliance will prepare the country for tough competition in the global supply chain and it is important that the country wins this competition. 

 

Highlighting their contribution to the country, the Prime Minister said that the package will also focus on empowering the poor, labourers, migrants, etc., both from organized and unorganized sectors.