PM announces economic package and gave a clarion call for Atmanirbhar Bharat

May 12: Prime Minister Shri Narendra Modi addressed the nation today. Recalling those who have died battling the pandemic, Prime Minister said that the crisis that has emerged due to COVID-19 is unprecedented, but in this battle, we not only need to protect ourselves but also have to keep moving forward. 

Self-reliant India: Talking about the pre and post COVID worlds, Prime Minister observed that in order to fulfill the dream of making the 21st century India’s, the way forward is through ensuring that the country becomes self-reliant. Talking about turning a crisis into an opportunity, he gave the example of PPE kits N-95 masks, whose production in India has gone up from almost being negligible to 2 lakh each, on a daily basis.

Five pillars of a self-reliant India: He said that a self-reliant India will stand on five pillars viz. Economy, which brings in quantum jump and not incremental change; Infrastructure, which should become the identity of India; System, based on 21st century technology driven arrangements; Vibrant Demography, which is our source of energy for a self-reliant India; and Demand, whereby the strength of our demand and supply chain should be utilized to full capacity. He underlined the importance of strengthening all stakeholders in the supply chain to increase, as well as fulfill, the demand.

Atmanirbhar Bharat Abhiyaan: Prime Minister announced a special economic package and gave a clarion call for Atmanirbhar Bharat. He noted that this package, taken together with earlier announcements by the government during COVID crisis and decisions taken by RBI, is to the tune of Rs 20 lakh crore, which is equivalent to almost 10% of India’s GDP. He said that the package will provide a much needed boost towards achieving ‘Atmanirbhar Bharat’.

Prime Minister observed that the package will also focus on land, labour, liquidity and laws. It will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others. He informed that the details of the contours of the package will be provided by the Finance Minister from tomorrow, in the coming few days.

Prime Minister remarked that self-reliance will prepare the country for tough competition in the global supply chain, and it is important that the country wins this competition. The same has been kept in mind while preparing the package. It will not only increase efficiency in various sectors but also ensure quality.

Highlighting their contribution to the country, Prime Minister said that the package will also focus on empowering the poor, labourers, migrants, etc., both from organized and unorganized sectors.

He observed that the crisis has taught us the importance of local manufacturing, local market and local supply chains. All our demands during the crisis were met ‘locally’. Now, its time to be vocal about the local products and help these local products become global, he said.

Living with COVID: Prime Minister noted that several experts and scientists have said that the virus is going to be part of our lives for a long time. But, it is also important to ensure that our life does-not revolves only around it. He exhorted people to work towards their targets while taking precautions like wearing masks and maintaining ‘do gaz doori’.

Source: PIB