PM MODI'S SPEECH ON CORONAVIRUS : LOCKDOWN 4.0, ECONOMY RELIEF PACKAGE

Prime Minister Narendra Modi on May 12 addressed the nation amid the ongoing nationwide lockdown. This phase of the lockdown is set to end on May 17.

His address came a day after his meeting with state chief ministers where he sought suggestions on the lockdown strategy.

Here are the key takeaways from his address today:

>> PM Modi announced a special economic relief package in light of the ongoing situation due to the COVID-19 outbreak. He said the economic measures earlier announced by the government to tackle the COVID-19 pandemic, steps taken by the Reserve Bank of India (RBI), and this latest package will come up to a total of Rs 20 lakh crore, nearly 10 percent of India's gross domestic product (GDP).

>> The package, he said, will focus on land, labour, liquidity and laws.

>> He emphasised the need for a self-reliant India, the five pillars of which will be economy, infrastructure, technology-driven system, demography and demand.

>> PM Modi also said Lockdown 4.0 will be a new one, with new rules. It will be implemented based on suggestions from the states and details of the same will be announced before May 18.

>> He talked about the need to become local for vocal. The prime minister emphasised how we need to make the 'local' the mantra of our lives. He said today's global brands were once local too, but only with people's support did they go global.