Pradhan Mantri Yojana 2020: The world is facing a pandemic situation due to the outbreak of COVID-19. With this situation, a lot of people have suffered in terms of money and health. In that regard, the government of India has taken many important steps to help the people in need. India PM Narendra Modi has announced a Rs 20 lakh crore package to give relief to all the people and help the country to deal with the fallout in the economy.
In May Narendra Modi Addressed the nation during the coronavirus lockdown for the fifth time. At this time, he announced a package of Rs 20 lakh crore to give relief to all the people and help the country to deal with the pandemic situation.
On the other hand, Nirmala Sitharaman Finance Minister is going to provide detailed information on the package. PM Modi mentioned that the package will help India to become a self-reliant economy. By doing so, this will help the Indian economy in a great way and they don’t have to rely on external support. Additionally, he also mentioned the intended receipts for the massive economics so that the economy can do better.
Various sections of the package
With this package, there are various sections included to help society and make the economic links better. The package is focused on labor, land, and liquidity. Additionally, the support will be given to the home industries, India’s cottage industries, and small & medium enterprises.
The main aim of the package is for the country’s labor and farmers who work in different weather conditions and all-round the clock. additionally, for the middle-class Indians who give their taxes on time and honesty as well as to support the industries.
PM Modi also said, “The package will be a great help in the Atmanirbhar Bharat Abhiyan”. Well, these are the announcements which the government has made. As decided by the government and RBI, the package is around Rs 20 Lakh crore which is equivalent to India’s GDP by 10 percent.
PM Modi also focused that Indians should become self-reliant at this time. No doubt, the COVID-19 has affected the Indian economy greatly. The self-reliance should be considered a new thing and it is essential to move on so that we can be better.
Focus on small sectors
Due to COVID-19, thousands of people’s lives have been taken and many people are affected by this disease. He also addressed that local stores have worked in the best manner in this situation and the country needs to focus on ways to strengthen them.
The Finance Minister also rolled out a package for financial relief worth 1.7 lakh crore.
In this package, the main focus is given to the daily wage earners, farmers, labourers, women, and disabled people. Under the previous package, the government also provided monetary relief in terms of the food grain so that the needy people can get the food on time.
Meanwhile, the lockdown phase is heading over the unlock down phase and many restrictions will be taken away slowly and rapidly.