Local News, National News

PM Modi announces financial package worth Rs 20 lakh crore to fight Covid crisis

Prime Minister Narendra Modi addressed the nation on Tuesday where he talked about the Covid-19 stuation in the world as well as India and announced a special economic package.

The package, said PM Modi, combined with the recent decisions by the government and Reserve Bank of India (RBI) will come to about Rs 20 lakh crore – nearly 10 per cent of India’s Gross domestoc Product or GDP.

Prime Minister Narendra Modi has announced a special economic package, and said the recent decisions by the government, the decisions by the RBI combined with the May 12 financial package announcement come to about ₹20-lakh-crore — nearly 10% of India’s GDP.

There is unprecedented crisis but India will neither get tired nor give up the fight against coronavirus, and asserted that “we have to protect ourselves and move ahead as well“.

Special economic package is for our labourers, farmers, honest tax payers, MSMEs and cottage industry, the Prime Minister said in a televised address to the nation. India is standing on five pillars — economy, infrastructure, governing systems, vibrant democracy and supply chain, he said.

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