AatmaNirbhar 20Lakh Crore Financial Package announced by Modi

Prime Minister Modi on Tuesday announced AatmaNirbhar a huge financial package to the nation worth Rs. 20 Lakh Crore during his 30-minute speech.

5 Pillars of Aatmanirbhar Bharat

1. Economy- quantum jump not incremental change
2. Infrastructure- for modern India
3. System- technology-driven for 21st century
4. Demography- vibrant demography as the world’s largest democracy
5. Demand- optimize demand and supply chain in the economy

PM Modi said India produces more than 2 lakh N95 masks each day, India has transformed the emergency to a possible opportunity this is a big example of self sufficient India. India belives in “vasudhaiva kutumbakam” world is one family.

I announce a special economic package today. This will play an important role in the ‘Aatmanirbhar Bharat Abhiyan’. The announcements made by the govt over COVID, decisions of RBI & today’s package totals to Rs 20 Lakh Crores. This is 10% of India’s GDP

Prime Minister Modi

Complete Details of the AatmaNirbhar Package will be Shared by finance minister Nirmala Sithraman. Aatmanirbhar aarthik package is for the workers and laborers, the middle class, the business houses. The finance minister will give details of this package in the next few days.

Key Points of Modi Speech

  • The prime minister announced an economic package for the ‘Aatma Nirbhar Bharat Abhiyaan’ with the aim to build a self-reliant India.
  • The package is close to 10 percent of India’s GDP.  The total allocation including the last package stands at Rs 20,000 lakh crore.
  • The package will help India compete at a global scale. India will play a major role in the global supply chain, the PM said.
  • ‘We will wear masks and maintain social distancing but we will not let it affect us. So lockdown 4.0 will be in a new form with new rules.’
  • PM Modi batted for local-made products: “Local has saved us. It is not only a necessity, but it is also our responsibility. Local has to become our ‘Jeevan mantra’. Today’s global brands were once local. We should use local products and also promote them vocally.”
  • The lockdown 4.0 will be based on the suggestions by the state. The details will be out before May 18, the PM said.
  • The finance minister will reveal the details of the economic package on Wednesday.
  • ‘We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. This was unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward.’
  • ‘We have to protect ourselves against the virus, yet keep moving ahead. Today when the world is fearful, we have to resolve to be bold against the pandemic.’
  • ‘The key to India’s fight against the coronavirus has to be self-reliance, but this does not imply that we are self-centered’.
  • ‘India’s strength is to turn crisis into opportunity. This has been the biggest asset in our fight against the virus.’
  • ‘India’s progress has always gone hand in hand with the progress of the world.’
  • ‘We have heard that the 21st century will be India’s. Our resolve is much bigger than the crises. We have to save ourselves and continue our fight. We will not give up or accept defeat.’
  • ‘India has changed the world with its policies. Yoga has been India’s gift to the world. India’s efforts to tackle the coronavirus pandemic are being lauded by the world. The world has started believing in India’s abilities.’ 
  • ‘In a world that is fighting life & death, India’s medicines today bring new hope. With these steps, when India is being praised everywhere in the world, every Indian feels proud.’