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Let's Seize Moment & Make India Asia's Top Investment & Business Destination: Milind Deora

Milind Deora on Wednesday expressed hope over Union FM Nirmala Sitharaman outlining the government's roadmap for job growth and structural reforms.

stimulus package

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.

Read: 'Another historic step': Jyotriaditya Scindia welcomes PM Modi's Rs 20 lakh crore package

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". 

Read: Congress' Milind Deora welcomes $266 billion package; reference Chinese 'crisis' proverb

PM Modi announces economic package 

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. 

Read: MP Congress slams PM Modi's Rs 20 lakh crore Covid package, demands 'at least 50% of GDP'

Read: Pawan Kalyan gives thumbs up to PM Modi's Aatmanirbhar Bharat, positive of glorious future

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