Prime Minister Narendra Modi on Tuesday said India's self-reliance will be based on five pillars - economy, infrastructure, technology driven system, vibrant demography and demand.

Chennai:

Prime Minister Narendra Modi on Tuesday announced Rs 20 lakh crore special economic package for the country to be 'self-reliant' and deal with COVID-19.

"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan.' The announcements made by the government over COVID, decisions of RBI and today's package totals to Rs 20 lakh crore. This is 10 per cent of India's GDP," said Prime Minister Modi in his address to the nation.

He also said that humanity would not accept defeat from the coronavirus but the people have to stay safe and move forward.

#WATCH live from Delhi: PM Narendra Modi addresses the nation. https://t.co/MIw1kDZTxf
— ANI (@ANI) May 12, 2020

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

Talking about the gravity of the virus, Modi said: "It has been four months the world is fighting COVID-19. More than 42 lakh people from different countries have been infected by COVID-19. More than 2.75 lakh people have lost their lives due to the virus. In India too many families have lost their dear ones, I express my condolences to them."

"Today when the entire world is in crisis, we will have to further firm our resolve," he added.

The phase three of the lockdown is coming to an end on May 17.