AKGVG Updates

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Prime Minister Shri Narendra Modi addressed the nation on 12.05.2020 and announced an economic stimulus worth Rs 20 lakh crore for economic revival and making India self -reliant.
weekly-insight
Date: 13.05.2020

PM’s stirring call for self-reliant India

PM Modi Speech Highlights:

  • PM announced special comprehensive economic package of Rs 20 lakh crore equivalent to 10% of India’s GDP.

The package shall focus on land, labour, liquidity and laws and  will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others. He informed that the details of the contours of the package will be provided by the Finance Minister in the coming few days.

  • PM gave a call for self-reliant India laying down five pillars of Atmanirbhar Bharat namely:
    • 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 our source of energy for a self-reliant India; and
    • Demand, whereby the strength of our demand and supply chain should be utilized to full capacity
  • PM also advocated for bold reforms across sectors for driving the country's push towards self-reliance.
  • PM insisted that it is time to become Vocal for our local products and make them global.

PM appealed to the public that we should learn to live with COVID taking precautions like wearing masks and maintaining ‘do gaz doori’. He concluded hinting on the fourth phase of lockdown with new set of guidelines to be made public in the upcoming days.

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Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

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