PM Modi calls for self-reliant India, announces special economic package

The Prime Minister Narendra Modi repeatedly emphasised the need to make India self-reliant and said that "several bold reforms" were needed for the purpose so that the impact of crisis such as COVID-19 can be negated in future.

New Delhi: Giving a clarion call for building a self-reliant India on five pillars of the economy, infrastructure, modern systems, technology, demography and demand, Prime Minister Narendra Modi on Tuesday announced a special economic package that will take total assistance from the government during the coronavirus crisis to Rs 20 lakh crore.

In his address to the nation, Prime Minister Modi said the contours of the fourth stage of lockdown from May 18 will be "completely different" from the previous three phases and will be based on the recommendations from the States.

The Prime Minister repeatedly emphasised the need to make India self-reliant and said that "several bold reforms" were needed for the purpose so that the impact of crisis such as COVID-19 can be negated in future.

The reforms, he said, include supply chain reforms for agriculture, a rational tax system, simple and clear laws, capable human resource and a strong financial system to promote business, attract investment, and further strengthen Make in India.

In his over 30-minute address, the Prime Minister said that the special economic package will focus on empowering the poor, labourers and migrants both from organised and unorganised sectors. The package will also focus on land, labour, liquidity and laws.

It will cater to various sections including cottage industry, MSMEs, labourers, the middle-class and industry. The details of the package will be announced by Finance Minister Nirmala Sitharaman from tomorrow.

Noting that the package will provide a much-needed boost towards achieving 'Atmanirbhar Bharat' (self-reliant India), he said: "This package, taken together with earlier announcements by the government during COVID crisis and decisions taken by the RBI, is to the tune of Rs 20 lakh crore, which is equivalent to almost 10 per cent of India's GDP."

He said the unprecedented crisis "has taught us the importance of local manufacturing, the local market and local supply chains."

"All our demands during the crisis were met locally. Now, it's time to be vocal about the local products and help these local products become global," he said.

Noting that self-reliance will prepare the country for tough competition in the global supply chain, he said that it is important that the country wins this competition.

"The same has been kept in mind while preparing the package. It will not only increase efficiency in various sectors but also ensure quality," he said.

The Prime Minister, who had interacted with the Chief Ministers during the coronavirus crisis for the fifth time on Monday, noted that several experts and scientists have said that "the virus is going to be part of our lives for a long time" and "it is important to ensure that our life does not revolve only around it."

He exhorted the people to work towards their targets while taking precautions like wearing masks and maintaining 'do gaz doori'.

On the fourth stage of lockdown, he said that its contours will be completely different from those seen yet. "On the basis of recommendations received from States, new rules will be framed, and information about the same will be conveyed before May 18," he said.

The third phase of lockdown, during which some relaxations were given by the government, will end on May 17.

Noting that the crisis that has emerged due to COVID-19 is unprecedented, he said that in this battle "we not only need to protect ourselves but also have to keep moving forward."

Talking about the pre and post COVID worlds, Modi said that in order to fulfil the dream of making the 21st century India's century, the way forward is to ensure that the country becomes self-reliant.

Speaking about turning a crisis into an opportunity, he gave the example of PPE kits and N-95 masks, whose production in India has gone up from almost being negligible to 2 lakh each on a daily basis.

Pointing out that the definition of self-reliance has undergone a change in the globalised world, he said that when India talks about self-reliance, it is different from being self-centred.

He said that India's culture and tradition consider the world as one family and progress in India is part of and also contributes to the progress of the world.

The world, he said, trusts that India has a lot to contribute towards the development of the entire humanity.

Recalling the devastation in Kutch after the earthquake, the Prime Minister said that through determination and resolve the people of the area were back their feet. "A similar determination is needed to make the country self-reliant," he said.

He said that a self-reliant India will stand on five pillars - economy, which brings in quantum jump and not incremental change; infrastructure, which should become the identity of India; system, based on 21st-century technology-driven arrangements; vibrant demography, which is a source of energy and demand, in which the strength of demand and supply chain should be utilized to full capacity.

He underlined the importance of strengthening all stakeholders in the supply chain to increase as well as fulfil the demand.

Talking about the positive impact of reforms like JAM trinity and others, brought about in the last six years, the Prime Minister said: "Several bold reforms are needed to make the country self-reliant so that the impact of crisis such as COVID, can be negated in future."

(ANI Report)