Prime Minister Narendra Modi has announced a package of amount of Rs 20 lakh crore which sums up to about 10% of India’s GDP that aims to make the country self-reliant and will help in rebuilding the economy that is currently reeling under the global pandemic.
Previously, the government had also announced a Rs 1.7 lakh crore plan wherein the Reserve Bank of India launched various programmes to help borrowers and boost liquidity, besides cutting interest rates to a record low.
As for this Rs 20 lakh crore package, the focus will be on labour and land in order to cater to various sectors including the small and medium enterprises, the working and middle-class sector, to name a few. With regard to how it helps India, he also mentioned that it will make India independent and self-reliant, which is crucial at this point in time as it will focus on empowering the poor in both the organised and unorganised sectors.
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