PM Modi announces Rs 20 lakh cr bailout package to fight COVID-19
New Delhi: PM Narendra Modi on Tuesday announced a mega economic package of Rs 20 lakh crore -- 10% of India's GDP -- in the country's fight against COVID-19 pandemic.
Modi made the announcement during his address to the nation at 8 pm on Tuesday -- his fifth big address since the outbreak of the pandemic.
The address to the nation came a day after his virtual interaction with the chief ministers on tackling the COVID-19 crisis.
The PM last addressed the nation on April 14.
"The economic package is for all the labourers of the country, for the farmers who are working day and night, for the people of the country in every situation and every season. This economic package is for the middle class of our country who pay taxes and contribute to the development of the country," he said, adding that the finance minister will give details about the package on Wednesday.
Moments after the announcement, reactions started pouring in on Twitter. “A special economic package is being announced- for an Atma Nirbhar Bharat Abhiyan with nearly 10% of a GDP (approx Rs 20 lakh) getting committed. MSMEs and the honest middle class help build a #selfreliant India, says @PMOIndia @narendramodi,” tweeted finance minister Nirmala Sitharaman.
“Announcement of economic package of ₹20 lakh cr to make India self reliant will go a long way in enabling farmers, entrepreneurs, small & medium scale industries to sustain themselves & enable them to move forward. #Meghalaya extends its appreciation to @NarendraModi,” tweeted Meghalaya CM Conrad K Sangma.
PM Modi also said that a new and improved lockdown 4.0 is on its way soon. The guidelines will be announced by the finance minister on Wednesday, he added.
Reacting to this, Manipur CM N Biren Singh tweeted: “PM @narendramodiji: Lockdown 4.0 is going to be completely different from the last three lockdowns. It will be based on feedback received from all CMs. #AatmanirbharBharat.”