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NEW DELHI: The government is working on a comprehensive project financial package not only for micro, small and medium-sized enterprises (MSMEs) but for all sectors of the economy, a senior official said Thursday.
“The Government of India, the Prime Minister’s Office and the Department of Economic Affairs are already working on a package that includes not only MSMEs but also the entire industry. All sectors of the economy are being served by a package comprehensive, which is being developed in the government, “said Giridhar Aramane, secretary of the ministry of road and highway transport.
He was speaking during an interaction with members of the SIAM Institute (Society of Indian Automobile Manufacturers) via video conference.
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“The Government of India, the Prime Minister’s Office and the Department of Economic Affairs are already working on a package that includes not only MSMEs but also the entire industry. All sectors of the economy are being served by a package comprehensive, which is being developed in the government, “said Giridhar Aramane, secretary of the ministry of road and highway transport.
He was speaking during an interaction with members of the SIAM Institute (Society of Indian Automobile Manufacturers) via video conference.
More about Covid-19
By participating in the same meeting, the Minister of the Union for MSMEs and road and highway transport Nitin Gadkari also said that “a package is going to be declared.”
Demand for a package to stimulate the economy has been growing from various sectors, including industry bodies and MSME sector experts.
MSMEs, which contribute 29 percent to the country’s growth and 48 percent to exports, are an important generator of employment.
However, the sector faces a major crisis amid a coronavirus pandemic, with millions of units seeking losses and the prospect of job cuts as they struggle to survive.
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