FM Nirmala Sitharaman to announce details of Centre’s Rs 20 lakh crore economic
The most important point covered by Modi was Atma Nirbhar Bharat, A self reliant India which can manage on its own.
We need to promote Local, so lets be Vocal for the Local now onward.
Announcing the 20 lakh crore stimulus package PM said that this package will definitely infuse vitality into the economy and benefit all sections of the society from the migrant labourers to big businesses.
The entire world is under lockdown situation from many days due to Coronavirus. Nearly 300000 people have already died and lakhs people are infected as of now. To reduce the spread of COVID-19, all schools, markets, malls are shut down across the country. The companies have asked the employees to Work From Home (WFH) where possible. As a result the economy of the country is in doldrums. There was a dire need of government stimulus to boost the economy of the country.
An unprecedented damage has already been done by the COVID-19 this year. The entire world is now facing the economic damage caused by the deadly virus.
The consequences of a combined health pandemic and a global recession will be catastrophic for many developing countries and halt their progress towards the Sustainable Development Goals - UN
The United Nation (UN) is calling for a USD 2.5 trillion rescue package for the developing nations out of which
- $1 trillion should be made available through the expanded use of special drawing rights
- $1 trillion of debts owed by developing countries should be cancelled this year
- $500 billion needed to fund a Marshall Plan for health recovery and dispersed as grants
The announcement of 20 Lakh crore package has come as a boon to the already struggling economy. The small scale industres, labour class, middle class are expecting the relief from this package.
Finance Minister Nirmala Sitharaman will be giving the details of the package soon.
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