Finance Minister Nirmala Sitharaman To Spell Out Details Of Economic Package Today

New Delhi: Union Finance Minister, Nirmala Sitharaman is scheduled later in the day, to spell out sectoral distribution of the economic package of Rs.20 lakh crore announced by Prime Minister Narendra Modi on Tuesday night. The focus of the Finance Minister's explanationis likely to be on medium and small enterprises (MSMEs).Nirmala Sitharaman is also likely to focus on labourers and daily wage earners in her briefing on Wednesday.

Prime Minister Narendra Modi announced a comprehensive economic package a day after he spoke to all the chief ministers in the country. PM Modi observed that the financial package amounted to 10% of India's GDP. He also remarked that the focus would be on land, labour, liquidity and laws.

In his speech, PM Modi called for a self-reliant India. He said that India must turn these times of adversity into an opportunity. The need of the hour is to think global and go local, he said. The Prime Minister exhorted fellow-Indians to be vocal about local.

PM Modi pointed out that it was heartening to see Indian manufacturers making PPE kits and N 95 masks. Before COVID-19 broke out in the country, there were hardly any manufacturers of PPE kits and 95 masks. Today, he pointed out, manufacturers could make as many as 20,00,00 kits of both.

India must leverage these 5 pillars of a self-reliant nation to the fullest PM Modi said—a growing economy, infrastructure, technology, demographic power and domestic demand.