PM Modi Announces Economic Package Of Rs 20 Lakh Cr Under 'Atmanirbhar Bharat Abhiyan'; It's 10% Of India's GDP
ABP NewsThe post COVID-19 era will bring with it several opportunities and India's track record convinces me we will rise to the occasion and embrace the opportunities ahead. #AatmanirbharBharat pic.twitter.com/eYqt5IDtBp — Narendra Modi May 12, 2020 In a big push to revive the economy which is currently reeling under Coronavirus crisis, Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore mega financial package, which combined the government's recent announcements on supporting key sectors as also measures rolled out by the Reserve Bank of India. PM Modi also said that the economic package will be around 10 per cent of country's gross domestic product and will address problems of a wide range of sectors as well as difficulties of the migrant workers.The PM said that the package will give emphasis on land, labour, liquidity, laws and will also focus on the farmers and the labourers who support the nation during the times of crisis. The PM further said that the package will give rise to a rational tax system, strong financial system besides encouraging businesses and bringing in investments into India. Industry experts welcomed the announcements, saying that there are many ways in which the schemes announced on Tuesday can be financed, including from the extra Rs 200,000 lakh crore the Centre will get from higher levies on petrol and diesel.PM Modi had begun his address by talking about how coronavirus has impacted the entire world by calling the crisis "unprecedented".