The collection of measures introduced on Wednesday by the federal government to spice up the financial system hit by the coronavirus lockdown will improve liquidity, empower entrepreneurs and strengthen their aggressive spirit, Prime Minister Narendra Modi stated.
He additionally stated the bulletins made by Finance Minister Nirmala Sitharaman will go a great distance in addressing points confronted by companies, particularly Micro, Small and Medium Enterprises (MSMEs).
“The steps introduced will enhance liquidity, empower the entrepreneurs and strengthen their aggressive spirit,” the prime minister wrote on Twitter.
In search of to spice up the COVID-hit financial system, Sitharaman introduced Rs 3-lakh crore collateral-free computerized mortgage for companies, together with MSMEs.
This can profit 45 lakh small companies, she stated, detailing components of the Rs 20-lakh crore financial stimulus.
“At this time’s bulletins by FM @nsitharaman will go a great distance in addressing points confronted by companies, particularly MSMEs,” Modi stated.
The bulletins by the finance minister got here a day after Prime Minister Modi launched huge new monetary incentives on high of the beforehand introduced packages for a mixed stimulus of Rs 20 lakh crore.