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Foreign Minister S Jaishankar praised Finance Minister Nirmala Sitharaman’s announcements on Thursday under the government’s Rs 20 lakh crore stimulus package and described them as “bold initiatives”.
“Foreign policy begins at home. A strong economy allows our voice to be heard in the world. Applaud the bold initiatives of FM @ nsitharaman under the leadership of PM @ narendramodi to revive the MSMEs sector, “Jaishankar tweeted.
We also appreciate the support provided to stressed sectors of the economy.
India is driven today by a new vision, a stronger purpose and a deeper commitment. A self-sufficient India has more to offer the world.#AtmaNirbharBharat
– Dr. S. Jaishankar (@DrSJaishankar) May 14, 2020
The chancellor said that MSMEs are the backbone of the economy and that “we should never allow it to be hollowed out.” Jaishankar said he appreciates the support provided to stressed sectors of the economy.
“India is driven today by a new vision, a stronger purpose and a deeper commitment. A self-sufficient India has more to offer the world. #AtmaNirbharBharat, ”Jaishankar posted in a tweet.
Also read: The second phase of FM Sitharaman’s announcement on the economic package today at 4 p.m.
Today’s FM announcements @nsitharaman It will go a long way towards addressing the problems facing companies, especially MSMEs. The announced steps will increase liquidity, empower entrepreneurs, and strengthen their competitive spirit. #AatmaNirbharBharatAbhiyan
– Narendra Modi (@narendramodi) May 13, 2020
The finance minister’s announcement on Wednesday was packed with a series of measures to help various economic sectors amid the coronavirus crisis. Sitharaman announced on Wednesday a stimulus of Rs 5.9 lakh crore with a strong focus on MSMEs. The government also announced a liquidity scheme for NBFC, HFC and MFI. While TDS and TCS rates were reduced by 25% to help investors and professionals, legal deductions on EPF contributions for formal sector employees and employers were also reduced.
Prime Minister Narendra Modi said the FM announcements “will go a long way towards addressing the problems facing companies, especially MSMEs.”
“The announced steps will increase liquidity, empower entrepreneurs and strengthen their competitive spirit,” PM Modi tweeted on Wednesday.
The finance minister will carry out the second phase of information on the economic package today at 4 pm.
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