Nirmala Sitharaman Said- Rs 3 Lakh Crore Loan will be Given to MSME, 45 Lakh Industries will Benefit

Nirmala Sitharaman Said- Rs 3 Lakh Crore Loan will be Given to MSME
  • Prime Minister Narendra Modi on Tuesday announced a special package for the self-reliant India campaign
  • Modi in his speech had focused on four L i.e. Land, Labor, Law and Liquidity.

Finance Minister Nirmala Sitharaman is giving information about the breakup of Kovid-19’s 20 lakh crore relief package. Sitharaman said on Wednesday that Prime Minister Narendra Modi had the vision of this package after discussing in detail from many parts of society and our goal is self-reliant India. This package is meant to make the country self-sufficient. The Finance Minister said that out of the special package, a loan of Rs 3 lakh crore will be given for small and medium industries i.e. MSME.

This package was announced by the Prime Minister in his message to the nation on Tuesday. In his speech, Modi had focused on four L’s ie Land, Labor, Law and Liquidity, which means that he can be given special consideration in the package.

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15 Steps Announced Today

6 for MMME
2 for NBFCs
2 for MFIs
1 for Discom
1 for Real Estate
3 Tax Related
1 for Contractor

Finance Minister’s Speech

  • Nirmala Sitharaman said- The package has been announced keeping in mind the vision of self-reliant India. Its five pillars are Economy, Infrastructure, Systems, Demography and Demand.
  • “Self-sufficient India does not mean that we have a separatist mindset. Our focus is to make the local brand global.”
  • Many steps were taken for a self-reliant India. Money was directly poured into the account of farmers, workers, laborers, which was in itself a revolution.”
  • Funds have been sent directly to people’s bank accounts through PM Kisan Yojana, Ujjwala Yojana, Swachh Bharat Abhiyan, Pradhan Mantri Crop Insurance Schemes. The benefit of these schemes was passed on to the farmers. GST benefited small scale industries.”
  • We have taken 6 major steps for small scale industries. Up to Rs 3 lakh crore loan will be given for MSMEs. 45 lakh small industries will benefit from this. No guarantee fees will be charged from them.”

Focus on Coordination in Demand and Supply Chain – Anurag Thakur

Union Minister of State for Finance Anurag Thakur said- Under Kovid-19, the Prime Minister took the first step under Prime Minister Garib Kalyan which was worth Rs 1.70 lakh crore. Liquidity was provided through RBI. India is fighting Kovid better than in countries around the world. We are deeply contemplating that the demand and supply chain co-ordinate.

Breakup of 12 Lakh Crore Rupees Package

About Rs 8 lakh crore of the Rs 20 lakh crore package was already released by the RBI and the government. Now a breakup of 12 lakh crore rupees package is being given.

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