Aatma-Nirbhar Bharat: PM Modi announces Rs 20 lakh-crore package

As part of the 'Aatma Nirbhar Bharat Abhiyaan,' Prime Minister Narendra Modi declared in his address to the nation on Tuesday evening a Rs 20,000 lakh-crore stimulus package to make India more self-reliant in the face of the coronavirus pandemic.

The sum allocated is approximately 10 per cent of India's GDP.Finance minister Nirmala Sitharaman will provide details of the financial package on Wednesday, the PM said.

PM Modi also fought for the use of local goods, saying that "local has saved us. It's not just a requirement, it's our duty. Today's multinational brands were once local.On the planned Lockdown 3.0 extension, scheduled to end on May 17, the PM said Lockdown 4.0 will be "focused on the state's suggestions." The specifics of India 's fourth lockdown since March, the PM added, will be available before May 18.

Important points from PM’s address:

• "We are going to wear masks and social distancing but we are not going to let that impact us. Thus lockdown 4.0 with new rules would be in a new shape, "the PM concluded.
• The prime minister announced a 'Aatma Nirbhar Bharat Abhiyaan' economic package aimed at building a self-reliant India.
• The package accounts for about 10 per cent of India's GDP. The complete allocation from the last kit is 20,000 lakh-crore in Rs.
• The package is designed to help India compete globally. India will play an important part in the global supply chain, the PM said.
• PM Modi batted for local-made products: "Local has saved us. It's not just a requirement, it's our duty. Local has to become our 'jeevan motto.' The multinational brands of today were once local. We should use local products and support them vocally as well."
• The lockdown 4.0 will be based on the state 's recommendations, the specifics will be published before May 18, the PM said.
• On Wednesday, the finance minister will announce specifics of the economic plan.
• 'We'd never before seen or heard of such a situation. To mankind this is certainly incomprehensible. It had been unprecedented. But this virus does not allow humanity to accept defeat. We don't only need to defend ourselves but also push forward.'
• 'The secret to India's battle against coronavirus needs to be self-reliance, but that doesn't mean we're self-centered.'
• 'The power of India is to turn crisis into opportunity. This was the greatest asset to our fight against the virus.'
• 'Progress by India has always gone hand in hand with world growth.'
• We have learned that India should belong to the 21st century. Our commitment is much greater than the crises. We must save ourselves, and continue our struggle. We are not going to give up, or embrace defeat.'
• 'India has changed its policies to the world. Yoga was a gift to the world by India. The planet is applauding India's attempts to counter the coronavirus pandemic.
• 'Today, India's medicines offer a new hope in a world that is battling life & death. With those moves, every Indian feels proud when India is celebrated everywhere in the world.'