In his much awaited address to the nation today, Prime Minister Narendra Modi announced Rs.20-lakh-crore relief package to help revive an economy hit hard by the Covid-19 pandemic. The details of the package will be shared by Finance Minister Nirmala Sitharaman tomorrow. At Rs.20 lakh crore, the quantum of the relief package works out to about 10% of the GDP.
Modi said that the singular idea behind this relief package, as well as the larger economic philosophy going forward, is ‘self-reliance’. Speaking of an ‘Atma Nirbhar Bharat Abhiyan’ or a national movement to promote self-reliance, the PM said that the government’s efforts towards economic revival will focus on four nodal areas: land, labour, liquidity and laws. Building further on the theme of self-reliance, he appealed to the people to get ‘vocal about local’ — that is, to buy locally made products to promote Indian industry and entrepreneurship.
The PM further said that lockdown 4.0 will have new rules, and the details regarding those will be made public before May 18. The ongoing lockdown 3.0 ends on May 17.
India’s coronavirus tally stands at 73,981 with the death toll reaching 2,408. Worldwide, total confirmed cases are 4,238,703. Global death reached 289,932. In the United States alone, the death toll is 81,650.
The Centre for Monitoring Indian Economy (CMIE) today said that 27 million Indians, in the age group 20-30 years, lost their jobs in April 2020 following the nationwide lockdown.
Meanwhile, the Prime Minister’s nationwide speech has drawn criticisms from many quarters. Many termed it as another ‘jumla’ delivered.
#OneMoreJumla trending now. It has over 21.7k tweets at the time of writing.
Many are appalled finding no mentions of the miserable conditions of the migrant workers are going through in the wake of the lockdown in the prime minister’s speech.
CPIM general secretary Sitaram Yechury tweeted,
“Painful that the misery and hunger being faced by millions of Indians was not worthy of mention in the PM’s address. The four big problems confronting India: distress of migrants, resources that States need, Hunger and Unemployment were not addressed at all!”
CPIML-Liberation leader Dipankar Bhattacharya tweets,