After PM Modi announced the massive stimulus package worth Rs 20 lakh crore to tide over the challenges posed by the pandemic, industry leaders praised the Prime Minister hoping that this package could 'unleash new growth' across sectors of the economy.
Prashant Ruia, Director of Essar Capital lauded the PM for being able to look beyond a crisis and turn 'calamity into an opportunity.' Sajjan Jindal, Director of JSW group also hailed the massive package calling it a 'bold move'.
Big & befitting package announced will not only be mega stimulus, it will unleash new growth impulse across all sectors. Congratulations PM @narendramodi to look beyond covid crisis & turn calamity into an opportunity for reset & change. Now for all of us to respond & do our bit.— Prashant Ruia (@prashantruia) May 13, 2020
Yesterday’s launch of #AatmaNirbharBharatAbhiyan by @narendramodi ji is a bold move. This stimulus of Rs. 20 Lakh Crore is what the nation was eagerly waiting for. The fine print needs to be studied but overall it looks fantastic!— Sajjan Jindal (@sajjanjindal) May 13, 2020
In a massive development on Tuesday, Prime Minister Narendra Modi announced a financial package to boost India's self-reliance. According to him, the earlier decisions of the Centre, including those by RBI, along with the new package totals Rs.20 lakh crore- i.e 10% of India's GDP. However, the details of the package shall be announced by Union Finance Minister Nirmala Sitharaman in a short while. The PM mentioned that this would benefit the workers, hawkers, street vendors, farmers, the business class, etc. He added that special emphasis has been paid to land, labour, liquidity and laws.