PM Modi Announces Rs 20 Lakh Crore Economic Package While Addressing The Nation

PM Narendra Modi announces the need for a self-reliant India in the upcoming weeks.


May 13, 2020

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Prime Minister Narendra Modi has announced a stimulus package of Rs 20 lakh crore which adds up to about 10% of India’s GDP that will not only make the country self-reliant but will also help in reviving the economy that is currently stalled. Details of the plan will be unveiled by finance minister Nirmala Sitharaman starting Wednesday.

“These reforms include supply chain reforms for agriculture, rational tax system, simple and clear laws, capable human resources, and a strong financial system,” Modi said. “These reforms will promote business, attract investments, and further strengthen ‘Make in India’.”

Land and labour laws are what this package will focus on. The intention of this package is also to cater to various sectors including the micro, small and medium enterprises (MSMEs), working-class, middle-class and industries to name a few. The stimulus package follows the goal of empowering the poor in the organised and unorganised sectors while increasing efficiency and ensuring quality.

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