Announces Rs 20 lakh crore economic package
New Delhi: Prime Minister Narendra Modi on Tuesday indicated that the nationwide lockdown to stop the spread of novel coronavirus will be extended but will have completely different contours and rules.
In a televised address to the nation, Prime Minister also announced a consolidated economic package of Rs 20 lakh crore to help make India self-reliant in the wake of the coronavirus pandemic.
Modi said that Lockdown 4.0 will be completely different from those seen yet in its guidelines and rules.
“Scientists say that COVID-19 will be a part of our lives for a very long time. But we can’t let our lives remain confined around COVID-19. We will wear masks and maintain social distancing but we will not let it affect us. So, lockdown four will be in a new form with new rules,” Modi said.
“Based on the suggestions by States, information related to lockdown four will be given to you before May 18. We will fight COVID-19. We will move forward,” he added.
The Prime Minister on Monday held a video conference meeting with Chief Ministers of all states to discuss the road ahead in India’s fight against COVID-19 and noted that he was of the firm view that measures needed during the third phase of lockdown will not be needed in the fourth phase. Phase three of the lockdown is coming to an end on May 17.
Economic package of Rs 20 lakh cr
While details of the economic package would be announced by the Finance Ministry over the next few days, beginning Wednesday, Modi said it would cover all sections of the society including corporates, cottage and small scale industries, MSMEs, labourers and the middle class.
The consolidated package of Rs 20 lakh crore would include measures already announced by the government and the RBI so far to tackle the COVID-19 crisis. However, there was no clarity on from where these funds would come and what impact it might have on the fiscal health of the country.
Among various measures, the Finance Ministry had earlier announced a Rs 1.7 lakh crore package, mainly for providing food grains and cash support to the poor.
Modi said the special economic package of Rs 20 lakh crore is equivalent to almost 10 per cent of India”s GDP and it will provide a much needed boost for making India self-reliant. The package will also focus on land, labour, liquidity and laws, he said.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.