‘We’ll know if this will be transformational like 1991’: Anand Mahindra on govt’s ₹20 lakh cr package

Mahindra described the prime minister’s address to the nation as “an opportunity to change the narrative from ‘Survival’ to ‘Strength,’”.

Indian billionaire businessman and chairman of the Mahindra Group Anand Mahindra reacted to Prime Minister Narendra Modi’s announcement of ₹20 lakh crore Covid-19 economic stimulus package and said that he won’t be getting “much sleep” in the anticipation of the details.

Mahindra described the prime minister’s address to the nation as his “carpe diem” speech . (Hindustan Times)

“We will know tomorrow whether or not this is going to be a transformational moment like 1991,” Mahindra said referring to the liberalisation of the country’s economic policies that took place in the year 1991.

Mahindra described the prime minister’s address to the nation as his “carpe diem” speech - “an opportunity to change the narrative from ‘Survival’ to ‘Strength,’” Mahindra posted on Twitter on Tuesday night.

“What I also believe is I won’t get much sleep tonight!” his tweet read,” Mahindra tweeted.

Prime Minister Narendra Modi on Tuesday addressed the nation and announced that the ₹20 lakh crore stimulus package will infuse vitality into the economy. PM Modi said that the package will benefit all sections of the society from the migrant labourers to big businesses. He said the details of the package will be made public by the finance minister in the coming days.

“It is a a special economic package that will serve as an important link to the ‘Self-reliant India Campaign (Aatma nirbhar Bharat)’”. The relief package amounts to roughly 10% of India’s gross domestic product (GDP) he said.

In his address on Tuesday, the prime minister said that the economic package is for the middle class of our country, “which pays taxes honestly and contributes to the development of the country”.

“This economic package is for Indian industries, which are determined to give a boost to the economic potential of India,” he said.

Union Finance Minister Nirmala Sitharaman will brief the media on Wednesday at 4 pm today and share the details of the ₹20 lakh crore economic stimulus package.