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The leader of the Congress and former Minister of Finance, P Chidambaram, tweeted under the condition of MSMEs (File)
New Delhi:
The leader of the Congress, P Chidambaram, hit the government today, highlighting apparently contradictory statements by two Union ministers about the condition of the MSMEs (micro, small and medium-sized companies) that have been negatively affected by the national blockade by the virus. COVID-19.
In the first of two tweets posted around 10am, Chidambaram referred to a comment by MSM Minister Nitin Gadkari, who told news channel CNBC-TV18 that government agencies owed MSRs Rs 5 crore in unpaid installments.
Mr. Chidambaram pointed out on Wednesday a statement by the Minister of Finance, Nirmala Sitharaman, in which he announced Rs 3 lakh crores in unsecured loans for 45 lakh MSMEs.
“Minister Gadkari says that governments and UPMs owe Rs 5 million to MSMEs as unpaid installments. Minister Sitharaman says that she will offer a free Rs 3 million loan to MSMEs (amounting to 45 lakhs). So, Who is the lender and who is the lender? The borrower ?! ” Mr. Chidambaram tweeted.
Minister Gadkari says that governments and UPMs owe Rs 5 lakh crore as unpaid quotas to MSMEs
Minister Sitharaman says she will offer a free collateral loan of Rs 3 lakh crore to MSMEs (totaling 45 lakhs)
So who is the lender and who is the borrower?
– P. Chidambaram (@PChidambaram_IN) May 15, 2020
“Will the two ministers ‘settle their accounts’ first and allow MSMEs to save themselves without government ‘help’?” the former finance minister said sarcastically.
Will the two ministers settle their accounts first and let MSMEs save themselves without government help?
– P. Chidambaram (@PChidambaram_IN) May 15, 2020
Earlier this week, Ms. Sitharaman, detailing the government’s COVID-19 Rs 20 lakh crore economic relief plan, said loans to MSMEs would be creditless and would have a 12-month moratorium.
The loans come when thousands of small businesses across the country are on the brink of bankruptcy due to the coronavirus blockade.
Last week, Mr. Gadkari said that the fees owed to MSMEs by central and state governments, as well as UPMs (public sector units) and other industries were “very high” and that MSMEs, like As a result of those outstanding fees, they were engaged in a “battle for survival.”
Chidambaram’s tweets today seem to indicate the contradiction in the statements of the two ministers, questioning the apparent non-payment of fees to MSMEs while increasing their outstanding loans.
The congressional leader had previously voiced cautious approval of the government’s aid plan for MSMEs, calling it “modest.” He also expressed disapproval of other announced measures, describing the government as a “prisoner of his own ignorance.”
In the past two days, Nirmala Sitharaman has made several announcements detailing the disbursements of the Rs 20 lakh crore relief package announced by Prime Minister Narendra Modi.
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