Nitin Gadkari expecting a financial relief package for MSME’s soon

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Nitin Gadkari : The sector which is the most affected amid the crisis and lockdown is the micro, small and medium enterprises. With millions of job loss and salary cuts, citizens under this sector are struggling to survive. On the other hand, there is no relief till yet from government’s side which seems a little unfair as all they rely solely on government’s decisions and policies taken up to face the crisis.

As the micro, small and medium enterprises sector (MSME) contributes 29% to country’s growth and 48% to export generator. Not only this, it helps in generating employment to millions. Nitin Gadkari At this point of time, relief should be given so that they could also help their employees in this tough situation.

Nitin Gadkari

Union Minister, Nitin Gadkari claims that government is taking serious steps and are trying their level best to help MSME sector. Firstly, he expects a financial package or budget from the government. For achieving the best financial package, they are consulting to stakeholders and to various departments. Gadkari is expecting that the package will be declared as early as possible. As he also states that a special joint secretary is appointed to coordinate the matters with State Government and Foreign Companies who are willing to invest in India.

Government will also provide concessions differing with the types of industry. Specifically, for foreign companies, the concessions are bound to be major as well as transparent and corruption free system in order to mitigate funds from foreign.
Prime Minister Narendra Modi’s opinion on reviving the economy stands to work for the need of new structural reforms and explore work on infrastructure to reduce the impact of corona-virus-induced lock-down. Nitin Gadkari Strategies and interventions are being discussed in the financial sector to boom the growth and for welfare of the economy.

Union Ministry has suggested the relief package to the prime minister as well as finance minister and is hoping to hear the announcement soon.

 

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