After Prime Minister (PM) Narendra Modi announced the 20 lakh crore economic package yesterday details of it would come today. In his 5th address, yesterday since the pandemic the PM also cleared the air over lockdown 4.0 saying that it would come with new rules.
While the details of the lockdown 4.0 would come before 18th May, finance minister Nirmala Sitharaman will address media at 4 pm. The ministry of finance tweeted about the media address by the finance minister. PM Modi said that the package is about 10% of India’s GDP.
However, he didn’t provide the details about how this package would go. The 20 Lakh crore, however, would include the amount that the government and RBI have infused in as relief measure. That is the government is not putting 20 lakh crore at once rather what has been provided earlier and what is to be announced totals to form the amount.
As per PM’s address, the package would be holistic and would cover all the sectors. The PM said that the package is a part of Atmanirbhar Bharat Abhiyan (self-reliant India) whereby going vocal for the local products should be the idea in the future.