Congress President Sonia Gandhi on Saturday wrote to Prime Minister Narendra Modi on the grave economic disaster going through the nation.
In the letter, Gandhi highlighted the considerations of the MSME sector, saying if ignored, the issue can have a devastating and expansive ripple impact on the nation’s financial system.
Gandhi urged 5 concepts for redressal of the Micro, Small and Medium Enterprises (MSME) sector, which ‘stand on the verge of economic destroy’
She urged the prime minister to announce a Rs 1 lakh crore “MSME Wage Protection” package as additionally a credit score assure fund of an equal quantity, apart from a 24X7 helpline for serving to them out of this disaster.
While highlighting the disaster, she mentioned MSME sector is struggling round Rs 30,000 crore loss on daily basis due to the lockdown and efforts must be made to assist revive them as they’re the spine of the financial system.
“If ignored, this issue has the potential of having a devastating and expansive ripple effect on our economy,” she mentioned within the letter.
Gandhi additionally highlighted the necessity to set up and deploy a credit score assure fund of Rs 1 trillion. ‘This is critical to present liquidity to the sector and guarantee satisfactory capital is accessible to MSMEs at a time after they want it probably the most.’
She additionally added that because the nation continues to combat towards Covid-19, it important to spotlight an economic concern that wants fast consideration and intervention.
Congress President Sonia Gandhi writes to Prime Minister Narendra Modi on the grave economic disaster going through the nation. She reiterated the considerations of MSMEs (Micro, Small and Medium Enterprises) & urged 5 concrete concepts for redressal: Congress. #COVID19 pic.twitter.com/XPVTHvjDOS
— ANI (@ANI) April 25, 2020