- PM Modi visit USAOnly the mirror in my washroom and phone gallery see the crazy me : Sara KhanKarnataka rain fury: Photos of flooded streets, uprooted treesCannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfitRanbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A KissOscars 2022: Every Academy Award WinnerShane Warne (1969-2022): Australian cricket legend's life in picturesPhotos: What Russia's invasion of Ukraine looks like on the groundLata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)
The 18-year-old, Chirag Chikkara clinched a gold medal in the men’s freestyle 57kg categ
- FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup
- Hockey, cricket, wrestling, badminton, squash axed from 2026 CWG in Glasgow
- FIFA : Over 100 female footballers urge FIFA to reconsider partnership with Saudi oil giant
- Ecuador ready to make history against Uruguay: Beccacece
- Divanshi wins second gold as India sweep women's 25m standard pistol at Lima Junior Worlds
PM talks of self-reliance; takes total package to 10% of GDP Last Updated : 13 May 2020 02:28:02 AM IST Prime Minister Narendra Modi Prime Minister Narendra Modi on Tuesday announced a massive financial package to revive, reform and make the country self-reliant, while at the same time welcoming foreign capital and strengthening of supply chains .
In a televised address to the nation, Modi talked about new infrastructure and rational tax systems for a quantum leap of growth.
Besides, the Prime Minister announced stimulus measures which will take the total amount announced by the Ministry of Finance and the RBI to a total of Rs 20 lakh crore or 10 per cent of the GDP.
According to the Prime Minister, it is now the time to make India self-sufficient in every way and every Indian should buy and promote local goods.
The PM said that the package will give emphasis on land, labour, liquidity and laws. The package will also focus on the farmers and the labourers who support the nation during the times of crisis.
The PM further said that the package will give rise to a rational tax system, strong financial system besides encouraging businesses and bringing in investments into India.
Industry experts welcomed the announcements, saying that there are many ways in which the schemes announced on Tuesday can be financed, including from the extra Rs 200,000 lakh crore the Centre will get from higher levies on petrol and diesel.
Apart from this, the government has already used the escape clause in the FRBM act.
The announcement came at a time when the official data showed that contraction in manufacturing and electricity sector's output on the back of the Covid-19 outbreak and the subsequent lockdown to curb its spread plunged India's factory production in March 2020.
The factory output crashed by (-) 16.7 per cent during the month under review from a growth of 4.62 per cent in February and 2.7 per cent recorded in the corresponding month of last year.IANS New Delhi For Latest Updates Please-
Join us on
Follow us on
172.31.16.186