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PM Modi Speech Highlights: Lockdown 4.0, Rs 20 lakh crore package and more

BusinessToday.In     May 12, 2020

Prime Minister Narendra Modi, in his address to the nation, on Tuesday unveiled a special economic package worth Rs 20 lakh crore to support India's fight against coronavirus. PM Modi said India must realise its potential as a global leader in the 21st century by focusing on self-reliance. The PM in his speech at 8 pm asserted that India's self-reliance stands on five pillars - economy with potential for quantum jump, infrastructure, technology-driven system, demography and demand.

Here are the highlights of the Prime Minister Narendra Modi's speech to the nation:

Lockdown 4.0: As for the next phase of coronavirus lockdown, PM Modi said that the details for Lockdown 4.0 will be made public, after incorporating inputs from the states, before May 18. He added that the next lockdown extension will bring new rules and regulations with it.

Also Read: Coronavirus lockdown 4.0 will be imposed with all-new guidelines, measures: PM Modi

Financial package worth Rs 20 lakh crore: PM Modi announced a special economic package worth Rs 20 lakh crore, equivalent to10 per cent of India's Gross Domestic Product (GDP), to support India's fight against coronavirus. This financial package will act as the foundation stone for a self-reliant India and will support various sectors. "This package emphasises on land, labour and other crucial factors. It is for MSME, agriculture and other sectors that employ millions. It is for those farmers, labourers and middle-class that pays tax and contribute to India's growth," the PM said.

Also Read: PM Modi Speech Highlights: Lockdown 4.0 suspense continues; Rs 20 lakh crore package announced

5 pillars of India's self-reliance:  Prime Minister Narendra Modi said that India's self-reliance will be based on five pillars-economy, infrastructure, technology-driven system, vibrant demography and demand.

Best talent to make best products: PM Modi said that India has the world's best talent to make the best products. "World has started believing that India can contribute so much to advancement of humankind. How? The answer is self-reliance. India, once known as the golden bird, took strides towards the advancement of mankind. We were then shackled in chains. Now, we have the opportunity again. Engineers from India solved the Y2K crisis. India has the world's best talent, we will make the best products, make supply chains more advance. We can do this and we will," the PM told the nation.

Also Read: Coronavirus lockdown 4.0: PM Modi announces economic package worth Rs 20 lakh crore; 10% of GDP

Converted crisis into opportunity: "When the coronavirus outbreak began, there was negligible production of PPE kits in India. Today, every day 2 lakh PPE and 2 lakh N95 masks are being made in India. This is because India converted crisis into opportunity," PM Modi said.

One virus has destroyed the world: The PM said the coronavirus crisis is unprecedented, unimaginable but losing is not acceptable to human race. "While staying vigilant, we need to save the world and move forward. Globally, more than 42 lakh people have been infected by a coronavirus, more than 2.75 lakh people have lost their lives due to the virus. In India too several families have lost their dear ones, I express my condolences to them," PM Modi said.

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