The decisions of the RBI and today’s package adds to Rs 20 Lakh Crores or 10% of India’s GDP
Fourth phase of lockdown will be completely redesigned with new rules.
PM Modi:
PM Modi While addressing nation announces the relief package of 20 lacks Crores he said “I am announcing an economic package of Rs 20 lakh crore, which is almost 10 percent of India's GDP, to help India become a self-relaint nation. This economic package will focus on areas like land, labour, liquidity and law”.
He further said on Wednesday Finance Minister will reveal the details of economic package. Special economic package is for our labourers, farmers, honest tax payers, MSMEs and cottage industry, says PM Modi.
The Prime Minister focuses on achieving self-reliance for the country at this time of pandemic which has cramped out economy and slow it down. “This era of self-reliance will be our new pledge, we have to move on with new resolve.”
Moving toward next highlight in view of the proposals by states, data identified with lockdown 4.0 will be given to you before eighteenth May. We will battle Corona and we will push ahead, said PM. The Prime Minister also said scientists believe the coronavirus will be a part of our lives for a very long time, “but we can’t let our lives remain confined around corona”. “We will wear masks and maintain social distancing but we will not let it affect us. So lockdown 4.0 will be in a new form with new rules,” he said.
In conclusion "Lockdown 4.0" will be different and have new rules; you will be informed about it before May 18, says PM Modi.
Our Opinion:
PM Modi took out 10% of GDP as economic package which would be especially help full to middle class and farmers , tenants etc. PM Modi desires for purchasing items from neighborhood providers, says Indians must be "vocal about local" is good inciative.
To revive our economy government should give some relaxation of the lockdown as daily base earners or say people stuck poverty would die in hunger if they don’t die with virus.
I just want to request that relief fund should reach actually to poor rather than just on paper. We should focus on poor sector economy or the sector will crash and unemployment will be at the peak after pandemic.
Author : - Shivam Rajput
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