From Rs 20 lakh crore economic package to Lockdown 4: Key points from PM Modi’s speech
Prime Minister Narendra Modi on Tuesday night announced a Rs 20 lakh crore economic stimulus package for the country fighting the coronavirus pandemic, saying it will give a new impetus and a new direction to the self-reliant India campaign.
PM Modi said the relief package, which amounts to around 10% of India’s gross domestic product (GDP), would help all classes, from farmers and migrant labourers to big businesses. He also urged Indians to become more economically self-reliant.
Here are the key points from his televised speech:
* The state of the world today teaches us that an atmanirbhar Bharat (self-reliant India) is the only path. It is said in our scriptures ‘eshah panthah’ that is self-sufficient India.
* Such a big disaster is a signal for India, it has brought a message and an opportunity. I will share my perspective with an example. When the Corona crisis started, there was not a single PPE kit made in India. The N-95 masks were produced in small quantity in India. Today we are in a situation to produce 2 lakh PPE and 2 lakh N-95 masks daily. We were able to do this because India turned this crisis into an opportunity. This vision of India - turning crisis into opportunity- is going to prove equally effective for our resolve of self-reliant India.
* The culture and tradition of India speak of self-reliance and the soul is Vasudhaiva Kutumbakam. India does not advocate self-centric arrangements when it comes to self-reliance. India’s self-reliance is ingrained in the happiness, cooperation and peace of the world.
* Friends, this magnificent building of self-reliant India will stand on five pillars. The first pillar is the economy, an economy that brings quantum jump rather than incremental change. The second pillar is infrastructure, an infrastructure that became the identity of modern India. The third pillar is our system, which is driven by technology which can fulfil the dreams of the 21st century; a system not based on the policy of the past century. The fourth pillar is our demography. Our vibrant demography is our strength in the world’s largest democracy, our source of energy for self-reliant India. The fifth pillar is demand. The cycle of demand and supply chain in our economy is the strength that needs to be harnessed to its full potential.
* This package will give a new impetus to the development journey of the country in 2020 and a new direction to the self-reliant India campaign. In order to prove the resolve of a self-reliant India, land, labour, liquidity and laws all have been emphasised in this package.
* These reforms will be for the rational tax system, simple and clear rules-of-law, good infrastructure, capable and competent human resources, and building strong financial system. These reforms will encourage business, attract investment and strengthen our resolve for Make in India.
* Therefore, from today every Indian has to become vocal for their local, not only to buy local products but also to promote them proudly. I am confident that our country can do this.
* The fourth phase of lockdown, Lockdown 4, will be completely redesigned with new rules. Based on the suggestions we are getting from the states, information related to Lockdown 4 will also be given to you before 18 May. I am confident that by following the rules, we will fight Corona and move forward.
* Friends, in our culture, it is said ‘sarvam atmavansham sukham’ ie what is within our control is happiness. Self-reliance leads to happiness, satisfaction and empowerment. When ethics are filled with duty, the culmination of diligence, the capital of skills, then who can stop India from becoming self-reliant? We can make India a self-reliant nation. We will make India self-reliant.