Senior Congress Milind Deora leader on Wednesday expressed hope over Union Finance Minister Nirmala Sitharaman outlining the government's roadmap for job growth and structural reforms during her briefing later in the day. Taking to Twitter, he urged people to seize the moment in order to make India Asia's top destination to invest for businesses.
Union Finance Minister Nirmala Sitharaman is set to announce the details of the Rs 20 lakh crore economic package on Wednesday, May 13 at 4 PM.
“Reform or perish“.— Milind Deora मिलिंद देवरा (@milinddeora) May 13, 2020
In addition to direct transfers & sectoral fillips, hope @nsitharaman ji outlines government’s roadmap for structural reforms & jobs growth.
Let’s seize the moment & make India Asia’s top destination to invest & do business in! https://t.co/4jYJsLJNGA
Earlier, Deora had called the announcement of Rs 20 lakh crore economic package by Prime Minister Narendra Modi to deal with COVID-19 crisis a "timely" one. Taking to Twitter, he had said that if carefully executed, India will avert a humanitarian crisis and will expand India’s role in global supply chains. Deora also shared a Chinese analogy which says "Crisis = danger + opportunity".
Timely announcement of a US $266 billion economic package by @narendramodi ji.— Milind Deora मिलिंद देवरा (@milinddeora) May 12, 2020
If carefully executed, we will avert a humanitarian crisis, expand India’s role in global supply chains & revolutionise our @makeinindia capabilities.
In Chinese, crisis = danger + opportunity pic.twitter.com/VEVeYuoICD
In order to boost the economy amid the Coronavirus crisis, Prime Minister Narendra Modi announced a financial package to boost self-reliance. According to him, the earlier decisions of the Centre along with the new package totals to Rs.20 lakh crore- i.e 10% of India's GDP. The Prime Minister also mentioned that the economic package would benefit the workers, hawkers, street vendors, farmers, the business class, and so on.
Apart from the Reserve Bank of India (RBI) assistance, the government had last month announced a Rs 1.74 lakh crore package to provide benefits to the poor, including cash transfers, Rs 50 lakh insurance cover and steps to ensure food security. PM Modi during his address on Tuesday at 8 PM announced that there will be a fourth phase of the lockdown, however, it will be different from the earlier ones. The details of the lockdown will be announced by May 18.