Home India Corner Atmanirbhar Bharat Abhiyan will integrate not isolate, says FM Nirmala Sitharaman

Atmanirbhar Bharat Abhiyan will integrate not isolate, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said that self-reliance will only integrate and not isolate India. It comes after Prime Minister Narendra Modi, late Tuesday evening, announced a Rs 20 lakh crore financial package to provide relief to various sectors of the economy amid ongoing coronavirus pandemic. The Indian economy has gained strength over the years and it can now confidently engage with the rest of the world, Sitharaman also said. “Indian economy has acquired strength in its various dimensions. Now, we can confidently engage with the world. We aim at overall transformation & not incremental changes. We shall convert the pandemic challenge into an opportunity. #AatmanirbharBharat will integrate not isolate,” Sitharaman tweeted after PM Modi’s address to the nation.

Sitharaman is scheduled to address a press conference at 4 PM today in New Delhi. Finance minister is expected to provide the outline of the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on Tuesday. “After a devastating earthquake in 2001, Kutch was built, thanks to the undaunted spirit & dedication of its people. Recalling that experience PM @narendramodi felt that people of India will lead the #AatmanirbharBharat Abhiyan,” Sitharaman said in an earlier tweet.

In March, the finance minister had announced a stimulus package worth Rs 1.70 lakh crore to fight against the coronavirus crisis.

“The special economic package of Rs 20 lakh crore announced by the PM is heartening. It will not only help us tide over the economic impact of Covid19 but will also ensure a faster turn around. While we watch out for the finer details of the announcement over the next few days, the emphasis laid by our PM on a ‘Self Reliant’ India brought to fore the potential and the inherent strength of India’s domestic demand. The 5 pillars of stronger economy, better infrastructure, technology driven system, vibrant demography and demand; will position India on a stronger footing in the long run,” said Anshuman Magazine, Chairman & CEO – India, South East Asia, Middle East & Africa.

While announcing the package yesterday, PM Modi said that the financial package will help boost every branch of the economy – from demand, supply chain to manufacturing.The economy is in need of transformation and not incremental changes, Modi added.

“PM Narendera Modi has announced an Economic Package of a total of Rs 20 lakh crore i.e. almost 10% of India’s GDP. The package comes as a shot in the arm and we could see a strong opening tomorrow and with a crossover of 9500 levels would witness a broader positive move,” said Vikas Jain, Senior Research Analyst at Reliance Securities.