Rs 10 lakh crore relief package, loan interest waiver, tax rebates: PM Narendra Modi's big announcements likely tonight

Prime Minister Narendra Modi will address the nation at around 8 pm on Tuesday (May 12), a day after he interacted with chief ministers on ways to contain the spread of coronavirus and also boost economic activity. The Prime Minister's Office said.

Rs 10 lakh crore relief package, loan interest waiver, tax rebates: PM Narendra Modi's big announcements likely tonight

New Delhi: Prime Minister Narendra Modi will address the nation at around 8 pm on Tuesday (May 12), a day after he interacted with chief ministers on ways to contain the spread of coronavirus and also boost economic activity, according to the Prime Minister's Office.

This will be the Prime Minister's fifth address to the nation, including a video message, following the outbreak of COVID-19. Sources in the government indicated that PM Modi is likely to speak on issues related to the lockdown and the economy.

Here are some of the big announcements that PM Modi is expected to make tonight:

Prime Minister Modi is expected to thank people and corona warriors including health workers and police in the fight against coronavirus. He is likely to highlight the government's easy-plan in battling the crisis.

He is expected to discuss the extension of lockdown and also an alternative exit plan by opening economic activities. 

The Prime Minister may announce a relief of Rs 10 lakh crore to the economy, besides interest waiver and tax exemptions. He is also likely to announce a relaxation in the air travel and may appeal to the industries in the nation-building.

In order to promote investments in India, the government may announce large tax benefits and tax holiday plans. Union Finance Minister Nirmala Sitharama is also expected to make an announcement in the coming days.

PM Modi is also expected to take up the migrant labourers' movement in tonight's address to the nation. 

On March 24, PM Modi had announced the 21-day nationwide lockdown to check the spread of the virus. In a video message on April 3, Modi had urged people to switch off the lights at their homes and light lamps, candles, or mobile phone torches for nine minutes at 9 pm on April 5 to display the country’s 'collective resolve' to defeat the deadly virus. 

He spoke again on April 14 to extend the lockdown till May 3. On May 2, the lockdown was further extended to May 17.

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