20 Lac Crore Package

Prime Minister Narendra Modi announced a ₹20 lakh crore package to mitigate the economic fallout of the coronavirus lockdown. The stimulus – equivalent to around 10% of India’s GDP – will benefit labourers, farmers and small businesses, Modi said, while hinting at relief for the middle class and corporates. The move is a key component of Atmanirbhar Bharat Abhiyan, which will focus on “land, labour, liquidity and laws,” the PM explained. Modi also said that the fourth phase of the lockdown will have "totally different" rules that will be announced before May 18.