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PM Modi announces Rs 20 lakh crore economic package

New Delhi: To boost Atmanirbharta of Indian manufacturers Prime Minister Narendra Modi in his address to the nation on Tuesday announced an economic package of Rs 20 lakh crore. The economic package is worth 10% of the India GDP. PM said this economic package is for the country’s cottage industry, home industry, small-scale industry, MSME, which is the source of livelihood of crores of people, which is the strong foundation of our resolve for self-reliant India.

He said, “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, decisions of RBI & today’s package totals to Rs 20 Lakh Crores. This is 10% of India’s GDP”. He emphasised that this special economic package will have an emphasis on land, labour, liquidity and laws.

“This economic package is for that worker of the country, is for that farmer of the country who is working hard day and night in every situation for the countrymen in every season. This economic package is for the middle class of our country who pays tax honestly and contributes to the development of the country”, Modi further said.Talking about daily wage workers and labourers, PM said, “Our friends on the streets, street hawkers, daily wage workers, migrant labourers, fisherman, etc. It is time for us to do our bit for them, The stimulus has special provisions for them.”

Strengthen local supply chains:

He further mentioned that this crisis has made the nation realise the importance of these people in the local supply chain. “Time has taught us that we have to realise the importance of local traders, craftsmen, and brand. Only when the people of a country realise and promote local products, only then they are accepted as global brands,” PM further said.

Indians must become vocal for local brands:

The PM also urged Indians to become vocal for local brands. He said, “Time has taught us that we must make ‘local’ the mantra of our lives. Global brands that are there today were once local too but when people there started supporting them they became global. That is why from today, every Indian must become vocal for our local brands.”

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