India coronavirus: PM Narendra Modi outlines economic rescue package

14 Mai, 2020, 08:43 | Auteur: Auguste Feret
  • India coronavirus: PM Narendra Modi outlines economic rescue package

The Indian automobile manufacturers body SIAM hopes Finance Minister Nirmala Sitharaman would come out with a focused package to support the auto industry when she announces the details of the package.

Prime Minister Narendra Modi on Tuesday addressed the nation on the issue of coronavirus crisis and presented a roadmap to make India self-reliant in the post-corona world.

Modi said that the package will give a new momentum to the country's efforts to become self-reliant and promised "bold reforms" through the assistance. Chief ministers of at least four states - Maharashtra, West Bengal, Punjab and Telangana - sought extension of the lockdown during the video conference. Modi announced that the government will spend the equivalent of almost 10% of the country's GDP on a coronavirus virus economic relief package created to make the world's second most populous nation more self reliant.

Addressing the nation, PM Modi asked people to prepare for the fourth phase of lockdown which would have features different from the past three. "This package emphasises on land, labour and other crucial factors".

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5 pillars of India's self-reliance: Prime Minister Narendra Modi said that India's self-reliance will be based on five pillars-economy, infrastructure, technology-driven system, vibrant demography and demand.

"The crisis has shown the importance of a self-dependent India. We will fight and move forward", he added.

He emphasised that India can make many products locally, boasting that the country went from manufacturing nearly no PPE kits or protective masks before the coronavirus pandemic to now making hundreds of thousands each day. However, now it has a daily production of two lakh PPEs and N95 masks each. Several states, in their interactions with the PM, have repeatedly sought larger economic packages to assist them in dealing with the ongoing crisis.

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