PM Narendra Modi announces special economic package of ₹20 lakh crore

Prime Minister Narendra Modi on Tuesday announced a special economic package of ₹20 lakh crore as the nation combats the spread of the coronavirus outbreak while stating that this package will make India self-reliant. 

“This economic package is for the farmer and labourer of the country who are working day and night for the countrymen in every situation and in every season. This economic package is for the middle class of our country which pays taxes honestly and contributes to the development of the country,” Narendra Modi said while adding that the economic package was for small-scale industries and the MSME sectors. 

During his address, Modi also said that the details of lockdown 4.0 which ends on May 17 will be announced before May 18. "The fourth phase of the lockdown will be completely redesigned with new rules," he added. 

This comes a day after PM Narendra Modi held a virtual meeting with the Chief Ministers of all states to discuss that the lockdown to contain the spread of the coronavirus should be gradually lifted. 

PM Modi had asked the states to submit their suggestions on opening the economy along with their recommendations for an exit from the lockdown by May 15.

“There are two challenges - to reduce the transmission rate of the COVID-19 and to gradually increase public activity. The fight against COVID-19 has to be more focused now since the economic activities have started in several parts of the country” Narendra Modi said during the meeting. 

While interacting with the PM, Maharashtra Chief Minister Uddhav Thackeray suggested that more relaxations in the lockdown should be announced rather than lifting it all together while pointing out the studies show that COVID-19 cases are likely to peak in June or July. 

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