Lockdown 4.0 will have new characteristics and rules and they will be released before May 18, says Prime Minister Modi
- Financce Minister Nirmala Sitharaman will unveil the details of the stimulus package over the next few days.
- The lockdown has been underway since March 25 and is, as of now, scheduled to end on May 17.
- This was Prime Minister Narendra Modi's fourth address since the lockdown began.
AdvertisementIndian Prime Minister Narendra Modi announced a ₹20 lakh crore stimulus package to boost the economy as the 55-day COVID-19 lockdown nears an end. This will benefit every from small industries to workers to the middle class to the big corporates.
This will include easy and transparent taxation, strengthening the financial system, to creating better human resource. These reforms will excite businesses and take forward our commitment towards 'Make in India'. "Land, labour, liquidity and laws - all factors have been given importance, Modi said in his speech.
These are the other top takeaways from Modi's speech:
- Our lives cannot get limited by the coronavirus crisis. Lockdown 4.0 will have new characteristics, new rules. Based on the suggestions from the state government, the guidelines for the next lockdown will be shared with you before May 18.
- “Every Indian should become ‘vocal’ for ‘local’ products. We should use local products and promote them as well. Local manufacturing is what has saved us. Today, the global brands that you see, were local at one time. These brands went from ‘local’ to ‘global’ when people used their products.”
- Today we have the resources and the ability, the best talent. We will make best products, improve the quality of manufacturing, modernise the supply chains. “Before the coronavirus pandemic, India didn’t manufacture person protective equipment (PPE) and a negligible number of N95 masks. Now, India manufactures 200,000 units of both PPE and N95 masks each. This is how we converted a crisis into an opportunity,” Modi said.
- We have been hearing for years that the 21st century will India's century. This is not just our dream, it is our responsibility too. The current situation of the world teaches us only one thing - a self reliant India. Now, India manufactures 200,000 units of both PPE and N95 masks each day. This is how converted a crisis into an opportunity.
- A self reliant India will stand on five pillars: eonomy, infrastructure, a tech-driven system that looks towards the future, a vibrant demography, and demand. The COVID-19 crisis has taught us that focussing on the 'local' should be our mantra. From today, every India should be more 'vocal' for the 'local'.
Narendra Modi announces a ₹20 lakh crore financial stimulus for a self-reliant India
Modi's 'self-reliance' and 'local thrust' looks like a jab at China, sounds like RSS' 'swadeshi' — and it will be music to Baba Ramdev's ears
PM Modi promises to ‘please everyone’ with his stimulus package
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