On May 12, Prime Minister Narendra Modi announced, “The Covid-19 pandemic has brought an opportunity for India to be self-reliant for which we have announced a Rs 20 lac crore package which is 10% of India’s GDP”.

He said, this package would help laborers, farmers, MSMEs, cottage industries, and honest taxpayers of India which will be helpful for India for becoming more “Self-Reliant”. This package will help our lands, liquidity, and laws & it will surely help making self-reliant India. Finance Minister Nirmala Sitharaman will help to announce the contours of the package starting from Wednesday.

PM modi said, We have tome to become self reliant for which we need to focus on 5 measures:
⦁ Economy – We have to move away from incremental changes with quntam jumps in the economy.
⦁ System – Technology infrastructure system & Processes
⦁ Demography – Building strength and capabilities on youngest demography.
⦁ Demand – Need of supply chains to fulfill the demands.
⦁ Infrastructure – Infrastructure building which recognizes the Modern India.

This economy package will definitely covers all aspects of economy including MSMEs, Agriculture, Industries, Laborers, & other sections of the economy. He added, Finance Minister will guide you in the coming weeks on how the economic package will be used.

This economic package will help India become more self-reliant through this pandemic time by developing local supply chains, strengthening local supply chains during this lockdown. In this speech, he also mentioned ” Aatma Nirbhar Bharat” which means Self -Reliant India, where Indians focus on focusing on local products & services which will strengthen local supply chains.

While talking about the lockdown restrictions, PM Modi mentions, all the other details about lockdown 4.0 will be released on 18th May 2020. This lockdown 4.0 will have different rules for different states.