Rs 20 lakh crore financial package is to spur growth, build self-reliant India: Nirmala Sitharaman

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday said that the Rs 20 lakh crore financial package is to spur growth and build a self-reliant India.

Addressing the media Nirmala Sitharaman said, "Prime Minister has always been for better living in this country. Our reforms are based on all this."

"This package is focused on five pillars that are economy, infrastructure, technology driven systems, demography and demand. With this, the focus would be what can be identified as factors of production such as land, labour, liquidity and law," she added.

The Finance Minister also said the announcement is in line with PM Modi's vision. "In his address, the Prime Minister didn't mean isolated India, but a confident India," said Sitharaman.

She also said that starting today, for the next few days, the Finance Minister would be coming with an entire team to put out the details of PM's vision.

"We shall not forget that we do have a responsibility towards the poor, migrants and aged," Sitharaman said.

Union Finance Minister addressed the media came a day after Prime Minister Narendra Modi announced Rs 20 lakh crore for the betterment of the country and said that the Finance Ministry would explain them in detail on Wednesday.

As she began to address the media, Nirmala Sitharaman explained the meaning of the word "Atmanirbhar" in South Indian languages and said, "PM Modi laid down a comprehensive vision. This was done after wide and deep consultations several sections of our society."