Sonia Gandhi writes to PM Modi seeking economic package for MSMEs

Congress President on Saturday wrote to Prime Minister 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.

ALSO READ: Working on Rs 1 trn fund for MSMEs to provide liquidity: Nitin Gadkari

While highlighting the disaster, she mentioned is struggling round Rs 30,000 crore loss on daily basis due to the 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.

ALSO READ: Covid-19 lockdown 2.0: Need govt support to keep units open, say MSMEs

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 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.

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