PM Modi of India shows the path to boost the Indian Economy with the formula of ‘Aatmanirbhar Bharat’ (Self-reliance India).
In his 5th address for the nation, he said that the 21st century is for the people of India. Due to lockdown, we got the opportunity to understand the global policies deeply. And, now the situations are in favor of India. We, the people of India must realize the value of crucial time and utilize it to make better India.
He told that self-India India will focus on Vasudhaiva Kutumbakam (the world is one family).
“We will manufacture good quality products and enhance the quality, and develop a contemporaneous supply chain, ” Modi said.
Five Pillars to Become Self-reliance
PM said that the following are the basic pillars for self-reliance India: Business, infrastructure, system (Technology-driven system), vibrant demography, and. (demand-supply chain).
“We will strengthen the supply chain of the system.”
Addressing the nation. https://t.co/Hingkddia3
— Narendra Modi (@narendramodi) May 12, 2020
Package of 20 Lakh Crore
He also announced an economic package of 20 Lakh Crore, which is 10% of Indian GDP. Initially, he announced the package of 7 lakh crore, and now the total 13 lakh crore more added to increase the life cycle of India.
Narendra said this package will play an important role to form self-reliance in India.
“Land, labor, liquidity, and laws are focussed equally to constitute the self-reliance India.
Cottage industries, home industries, small scale industries, MSMEs will get help from this economic package. These industries constituted the livelihood of many peoples.
He said the finance minister of India will share further details of this economic package. He emphasis on Aatmanirbharta (self-reliance) to empower Make in India.
“Vocal for ‘Local’, to use local products,” address Modi to take responsibility for promoting Indians products.
Lockdown 4.0 in India
He also announced for Lockdown 4.0, but with modified details. The further details for Lockdown will be shared before May 18th.