Finance Minister addresses media; Provides detail on Rs 20 lakh crore financial package

New Delhi, May 13: Union Finance Minister Nirmala Sitharaman on Wednesday addressed the media where she explained in depth about the allocation of Rs 20 lakh crore that was announced by Prime Minister Narendra Modi.

She also explained the meaning of the word "Atmanirbhar" in South Indian languages.

Addressing the media, the Finance Minister said, "PM Modi laid down a comprehensive vision. This was done after wide and deep consultations several sections of our society."

"Our factors would be production such as land, labour, liquidity and law. It would ensure to ease doing business. The intention is to take local brands and build them to a global level," Sitharaman said.

The Finance Minister also stressed upon the Direct Benefit Transfer for the poor, micro insurance schemes and Ujwala scheme that would be beneficial for many.

The Finance Minister's address came a day after Prime Minister Narendra Modi addressed the nation and urged people to purchase and propagate local produce and products to support local producers and manufacturers.