This amount is 10 per cent of the country’s GDP, the prime minister said.
Indian Prime Minister Narendra Modi on Tuesday announced a Rs20 trillion special economic package for the country to be ‘self-reliant’ and deal with Covid-19.
“I announce a special economic package today. This will play an important role in the ‘Atmanirbhar Bharat Abhiyan.’ The announcements made by the government over Covid-19, decisions of RBI and today’s package totals to Rs20 trillion. This is 10 per cent of India’s GDP,” said Prime Minister Modi in his address to the nation.
The Prime Minister said that humanity would not accept defeat from the coronavirus but the people have to stay safe and move forward.
“We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. It is unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward,” he said.
Talking about the gravity of the situation, Modi said: “It has been four months since the world has been fighting Covid-19. More than 42 lakh people from different countries have been infected by Covid-19. More than 2.75 lakh people have lost their lives due to the virus. In India, too, many families have lost their dear ones, I express my condolences to them.”
“Today when the entire world is in crisis, we will have to further firm our resolve,” he added.
The Prime Minister on Monday held a video conference meeting with chief ministers of all states to discuss the road ahead in India’s fight against Covid-19 and noted that he was of the firm view that measures needed during the third phase of lockdown will not be needed in the fourth phase.
Modi had said the need was to reduce the transmission rate of the disease and to increase public activity gradually while adhering to all the guidelines and efforts to be made towards achieving both these objectives.
The phase three of the lockdown is coming to an end on May 17.
