PM Narendra Modi raises stimulus size to 10% of GDP
NEW DELHI: Prime Minister Narendra Modi on Tuesday said the government would unveil a Rs 20 lakh crore package to help nurse the economy back to health and also unleash a new set of reforms focussed on land, labour, liquidity and legal frameworks that would power India’s push for self-reliance.
Addressing the nation a day after he held detailed deliberations with chief ministers and days before Lockdown 3 ends, the PM said the mega package would be announced over the coming days by finance minister Nirmala Sitharaman even as he strongly identified the theme of “atmanirbhar Bharat (self-reliant India)” that he said wouldn’t be a self-absorbed vision but would rather make the country a part of global supply chains — seen as part of the overall strategy to attract foreign companies planning to shift from China.
Modi said the package, which includes measures already announced by the Reserve Bank of India (RBI) and the finance ministry, would be equal to 10% of the country’s gross domestic product (GDP). The RBI had announced support equal to 3.2% of GDP and the Garib Kalyan Yojana unveiled by Sitharaman on March 26 accounted for 0.8% of GDP.
莫迪表示，该经济刺激计划包括印度储备银行(RBI)和财政部已经宣布的刺激措施，金额将相当于印度GDP的10%。印度储备银行已经宣布了相当于GDP3.2 %的资金支持，财政部长西塔拉曼在3月26日公布的Garib Kalyan Yojana计划，金额相当于GDP的0.8 %。
The PM’s speech included a promise that new reforms wouldn’t ignore migrant labour and those whose livelihoods had been hit hard by Covid-19 and a call to be “vocal for local” .
Economy doesn’t need incremental steps but a quantum jump: PM Modi
Outlining the need for bold steps, the PM said the economy did not need incremental steps but a quantum jump and added this was one of the “five pillars” of a self-reliant India. The others are infrastructure, a tech-driven system that delivers on the dreams of a modern India, demography that is vibrant and demand that is fed by supply chains capable of meeting the needs of a growing nation. He added that this includeed a rational tax system.
译文来源：三泰虎 http://www.santaihu.com/49871.html 译者：Jessica.Wu
Modi is a Gujrati thief
PM Modi is THE person India needs and deserves.
He is no less than pappu in terms of lies
what was the use of PM cares fund drama if feku can print so much money? from where this money will come? Rupee may tank like Zimbabwe if feku start printing 20 lakh crores.
Great idea and great leader
why can't he simply cut taxes?
it's because taxes are not paid by all people as there are lot of them exempted from paying taxes..
If 20 lakh crore is 10% of GDP India was 2 trillion economy not 3 trillion.
Fossil By Then
He is the greatest Indian EVER born..!! Most knowledgeable, most sharp mind, kind-hearted and looking for welfare of the poorest only.. always..
Atleast now plz deposit 15 lakhs in account.
joke of the day
PM Modi has missed the occasion of apologizing to the migrant laborers who suffered a lot due to sudden and unplanned lockdown. By the way. Modi never apologizes his blunders as it hurts his ego.
Which means all the money is going to few Ambani's.. I'd really want to know the names of beneficiaries of this scheme. I have whole lot of friends having businesses and I don't hear anyone getting it.
Before this too he had announced but nobody knows where it went, may be some Gujarati businessmen pocket
In 2015 prior to Bihar elections Feku announced 1.25 lakh crore package to Bihar but he didn't released even 5000 crores that is the credibility of Feku
This guy continuously faking. There should be some limit. What about my 10 lakhs that you promised. Plz return it first. I just can't trust you.
Modi loosing popularity.
Can't applaud him yet till we see the actual results.
Only boasting, last time he also said about 15 lakhs for each citizen.
Many people are dieing of starvation due to lock down. It will be more due to lock down. Our PM should announce relief package for these deprived poor Citizens. Govt should ensure money reaches them ASAP
These steps are little too late, damage is already done. Also it will increase the budget deficit and liabilities so large that will take decades to repay.
how can poor and middle men will be benefited from these 20 lac