GoI announces Lock Down 4.0 with economic package of Rs 20 lakh crores
On May 12, 2020, PM Modi announced Lock Down 4.0 with new rules. He also announced an economic package of Rs 20 lakh crores to ease lives of people during fourth lock down.
Highlights
As lock down 3.0, comes to an end on May 17, 2020, the new lock down 4.0 with new rules is to be implemented from May 18, 2020. The lock down is being extended as the spread of COVID-19 is not well contained.
India’s 5 pillars
India is to operate on 5 pillars of self reliance as announced by PM Modi. These pillars will help India lead the world in the 21st century. The pillars include
- The Economical changes that will not only bring incremental change but help in quantum jump
- Infrastructures will become symbol of modern India
- The systems will be technology driven. This will help fulfill the dreams of 21st
- The demography of India is the source and strength of self-reliant India
- The cycle of supply and demand will be focused to make sure the country harnesses its complete potential.
Economic Package
A special economic package was announced by PM Modi. The package was worth of Rs 20 lakh crores. The allocated amount makes up to 10% of India’s GDP. The new economic package is to be used to provide relief to labourers, middle class, farmers and industries that have suffered the most due to lock down.
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Month: Current Affairs - May, 2020