Lockdown 4 and Economic package of Rs 20 Lakh Crore announced by PM Modi

A different kind of lockdown after 17th

Wednesday, 13th May 2020

In his speech on Tuesday, PM Modi declared a stimulus package of Rs 20 Lakh Crore to overcome the lockdown hurdles due to Covid-19 pandemic. Lockdown 4 will be announced after 17th of May with new set of norms and guidelines, in a “completely different form”, said the Prime Minister.

He focused on “Aatma Nirbhar Bharat” (self-reliant India) with this economic package that equals around 10% of India’s GDP. PM Modi stated that once the CMs from the states suggest the lockdown type, lockdown 4 will be declared by 18th of May.

He said, “Corona will be with us for a long time but our lives cannot revolve around it. We will wear masks, we will follow doh gaj doori (six-foot distance), but we won't let it derail our targets”.

He added, “The package will focus on land, labour, liquidity and law; it will help small businesses, labourers, farmers, the middle class and cottage industries. It will focus on the well-being of migrant workers too”.

He stressed, “Day labourers, migrant workers have suffered much in this period. It is our duty now to do something for them”.

Nirmala Sitharaman is going to address some press conferences shortly to give a clear picture, said PM Modi.

Package is to include:

Companies’ wage bills for retaining the employees

Migrant labourer’s provision

Provision for self-employed

“We have never seen or heard of a crisis like this”, opined PM Modi.

He stressed that India is a potential leader in 21st century if it focuses on self-reliance. “Economy with potential for quantum jump, infrastructure, technology-driven system, demography and an intelligence-driven supply system where the strength of our demand and supply chain should be utilized to full capacity”, he said.

Source: NDTV