Prime Minister calls for Aatma Nirbhar Bharat (Self Reliant India)
Published on : Tuesday 19-05-2020
The prime minister also stated that the CoronaVirus may remain with humanity for life and it is for the people not to remain restricted by it.
In his address to the nation on the evening of May 12, 2020, Prime Minister Narendra Modi announced a special economic package of Rs 20 lakh crore that aims to make India self-reliant (Aatma Nirbhar Bharat) as part of national efforts to deal with the Covid-19 crisis that has wreaked havoc around the world. The amount of the package is 10 per cent of the country’s GDP and is expected to provide the much needed stimulus. In his address the prime minister emphasised that humanity would not accept defeat from the coronavirus but the people have to stay safe and move forward. The prime minister also stated that the CoronaVirus may remain with humanity for life and it is for the people not to remain restricted by it. Wearing of face masks and observing social distance will be the new normal, and hence the next stage of lockdown will be part of new way of life with steps to open up sections of the economy.
Apart from the special economic package, the following are the takeaways from the address.
The emphasis on five pillars:
1. Quantum jump in economy – not merely incremental
2. Infrastructure for a modern country
3. Technology driven system for the present
4. Vibrant demography and the world’s largest democracy
5. Demand and supply chain optimisation to meet the same.
This was followed by more details on the modalities by the Finance Minister Nirmala Sitharaman over the next two days. Highlights include:
1- The special economic package will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others
2- Bold reforms across sectors will drive the country's push towards self-reliance
3- It is time to become vocal for our local products and make them global.
4- Rs 3 lakh crores Collateral-free Automatic Loans for Businesses, including MSMEs
5- Businesses/MSMEs have been badly hit due to COVID19 need additional funding to meet operational liabilities built up, buy raw material and restart business
6- Land, labour, liquidity, law focus for liquidity package.
7- Rs 50,000 crore equity infusion for MSMEs through Fund of Funds.
The full address of the prime minister may be accessed at:
https://www.narendramodi.in/english-rendering-of-prime-minister-shri-narendra-modi-s-address-to-the-nation-on-12-5-2020-549627
