Decoding Economic Package for MSMEs
“These measures would enable India to garner investments and create jobs, emanating from worldwide anti-China sentiments.” Jayant Krishna of Wadhwani Foundation.
The provision for disallowing global tenders up to Rs. 200 crores is a welcome step. The new self-reliant India will be supporting the Make in India mission of the Govt.” Deepak Jain, OF Federation of Indian Industries
Federation of Indian Industry ( FII) Thanks Hon’ble Prime Minister Sh. Narendra Modi and Hon’ble Finance Minister Smt. Nirmala Sitharaman to have accepted many of the demands raised by FII for the economy of the country.
Praising Govt’s step of allocating Rs. 3 Lac Crores as collateral-free automatic loan for businesses including MSMEs, Deepak Jai of FII stated, “It is a very welcome step and it was needed. Although we had requested for 10 years repayment period, they have agreed to 4 years tenure with 12 months moratorium and Government will stand Guarantee for such loans and 45 lac units shall be benefitted from this.”
Mr. Jain also added, Further, equity infusion of Rs. 50,000 crores have been done as a mother of funds for MSME. Govt. proposes to revise the investment limit and turnover criteria are also being introduced in the definition of MSME. In the long run, it may not be in the interest of MSME. The provision for disallowing global tenders up to Rs. 200 crores is a welcome step. The new self-reliant India will be supporting the Make in India mission of the Govt.”
“We welcome the steps taken by the Govt. and shall continue to support the positive steps of the Govt. of India,” says
Deepak Jain, Director-General, Federation of Indian Industries.
Real Estate’s Perspective
Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd shared his views on the recent announcements made by Finance Minister Nirmala Sitharaman by quoting, “It is impressive to note that the Government is using the lockdown period to make major reforms and corrections in the structural and important elements of the economy. As far as real estate is concerned, the extension of the credit-linked subsidy scheme under PMAY- which offers an interest subvention on loans taken by the middle-class sections with an income of Rs 6-18 lakh will definitely help sustain the demand for affordable housing. The allocation planned for providing basic rental accommodation under the PPP model is certainly a better way to improve the quality of living for urban migrants and poor in our big cities. Though details are not available, we believe these projects can boost construction activities and investments in real estate assets across India’s cities.”