Prime Minister Narendra Modi on Tuesday announced a comprehensive economic package worth of Rs 20 lakh crore, which includes measures already announced by the union finance minister and the Reserve Bank of India (RBI) , to push self-reliance.

Addressing the nation fifth time on COVID-19 situation, Prime Minister said the economic package for the 'Aatma Nirbhar Bharat Abhiyaan' is close to 10 percent of India's GDP. The total allocation including the last package stands at Rs 20 lakh crore.

The Prime Minister said starting tomorrow, the finance minister will apprise you on details about the package meant to drive the country's 'Aatma Nirbhar Bharat Abhiyaan'.

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Special economic package is for our labourers, farmers, honest tax payers, MSMEs and cottage industry, the Prime Minister said in a televised address to the nation.

Prime Minister said the details about fourth phase of the lockdown will be made known before May 18, adding it will be different from the earlier phases.

The third phase of the lockdown ends on May 17.

Saying that India has been an example for progress in the last century, Modi said the country needs to become self-reliant in the world after the coronavirus pandemic.

"When the crisis started then not even a single PPE kit was manufactured in India, only a few N95 masks were available. Today two lakh PPE kits and 2 lakh N95 masks are manufactured in India daily," he said.

"We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. This was unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward," Modi said.

Further, Prime Minister said, "The crisis has brought a key opportunity for India. We are at a critical juncture in this fight. A self-reliant India is the only way forward. We need to make India excel in a post-COVID world order."

"We have heard that the 21st century will be India's. Our resolve is much bigger than the crises. We have to save ourselves and continue our fight. We will not give up or accept defeat," he added.

First Published:May 12, 2020 8:22 PM IST