Lockdown 4.0: Prime Minister Modi announces 20 lakh crore relief package

PM Modi came live at 8 PM on May 12. The Coronavirus pandemic brought Government and People closer. We are, now, more dependent on every word from authorities that can bring us back to normal. In his meeting with the Chief ministers, he said that the State and Centre have a two-fold duty. One, we must reduce the transmission rate of the coronavirus. Secondly, we must gradually increase public activities while adhering to all guidelines.

This was the prime minister's fifth address to the nation, including a video message, after the outbreak of COVID-19. The last time the prime minister addressed the nation on April 14. That day, he had announced the lockdown extension till May 3. Later, MHA announced the third lockdown till May 17. This included several relaxations in areas that were not severely hit by the virus.

What did PM Modi say today?

PM Modi said that this is an unprecedented crisis for humanity. But, we can't give up or get disheartened and we must continue to fight and strengthen our resolve. Before this pandemic began, we had zero PPE kits. But since we have become self-reliant, India manufactures 2 lakh PPE kits and 2 lakh N95 masks daily. We could only do this because India managed to convert a crisis into an opportunity. He even talked about how the Indian pharma sector and medicines are getting praise from all over the world. And they are looking up to us.

He said that today, we have resources and we can afford to make it as we have the world's best talent. We will make the best products in the best quality so that we can be self-dependent.

He talked about 5 pillars that will shape India:

1. Economy: We will have an economy that will work not only incremental change but also a quantum jump.

2. Infrastructure: That will become the identity of modern India.

3. System: A system that will be technology-driven

4. Demography: A vibrant economy that will be our energy source.

5. Demand: We will use the demand-supply to change the Indian Economy.

He also announced an economic package under the "Atmanirbhar Abhiyaan". The package of 20 lakh crore will help small industrialists. He also said that this pandemic has made us realise that small industries form the base of the Indian economy. The special economic package under the Atma Nirbhar Bharat Abhiyan with nearly 10% of a GDP (approx Rs 20 lakh crore) will help MSMEs and the honest middle-class to become self-reliant.

The Finance Minister will explain the details over the next week.

In these unprecedented times, we must all practise social distancing and follow the guidelines that the government laid down.