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Prime Minister Narendra Modi held a series of meetings on Saturday with key cabinet ministers and officials from the economy ministries to reaffirm the second stimulus package to lift the economy reeling under the impact of the coronavirus-induced blockade.
Interior Minister Amit Shah, Finance Minister Nirmala Sitharaman, representatives of the economy ministries and senior officials, including those from the Prime Minister’s Office and the Cabinet Secretariat, were present at the meetings.
The prime minister also had conversations with key economic ministries such as Agriculture and Farmer Welfare, and MSMEs to discuss various issues.
MSME Minister Nitin Gadkari said his ministry had suggested an aid package to the prime minister and finance minister for the medium, small and micro sector and expressed confidence that an announcement would be made soon.
“He chaired a meeting on strengthening our MSME sector, which plays a critical role in economic development. There were extensive discussions on ways to make this sector more vibrant, attractive and ready to take advantage of new opportunities,” said the prime minister in a tweet after the meeting.
During another meeting regarding the agricultural sector, various reforms were discussed in the commercialization of agriculture, the management of the marketable surplus, the access of farmers to institutional credit and the liberation of the agricultural sector from various restrictions with the appropriate support of the statute.
The focus was on making strategic interventions in the existing marketing ecosystem and carrying out appropriate reforms in the context of rapid agricultural development, according to an official statement.
“The flow of credit under favorable conditions to strengthen agricultural infrastructure, the special boost of the Kisan credit card saturation for PM-Kisan beneficiaries and the facilitation of inter and intra-state trade in agricultural products to guarantee a fairer return to Farmer were some of the important areas covered. The development of e-NAM on a platform of platforms to enable electronic commerce was one of the important topics of discussion, “he said.
The possibilities of a uniform legal framework in the country to facilitate new forms of agriculture that will infuse capital and technology in the agrarian economy were also discussed, he said, adding, the pros and cons of biotechnological developments in crops or the improvement of productivity and reduced input costs were also deliberate.
Later, the finance ministry also made a detailed presentation to the prime minister on the state of the economy and various initiatives he plans to undertake to stimulate the Indian economy.
During the deliberations, each ministry made recommendations and possible steps to be taken in the short term to shore up the sector they manage.
After a detailed review of each and every sector, an aid and stimulus package will be developed, the sources said.
The prime minister already had meetings with different ministries, including civil aviation, labor and power on Friday. On Thursday, he had a detailed discussion with the Ministry of Commerce and Industry, among others, with the aim of attracting domestic and foreign investment and the reactivation of small companies in the country to accelerate the recovery process.
During these meetings, both the Minister of the Interior and the Minister of Finance were present together with the Minister in charge of the ministries involved.
To mitigate the difficulties facing the base of the pyramid, the government announced in late March a stimulus package of Rs 1.7 lakh crore that included free food grains and cooking gas for the poor and cash for poor women and the elderly .
Sources said the government is planning to announce a second dose of relief measures for the vulnerable segment and a stimulus package for the industry soon.
In his speech to the nation on April 13, the prime minister had expressed concern about the problems faced by poor and daily gamblers and farmers.
“The government has made every effort to help them through Pradhan Mantri Garib Kalyan Yojana. Their interests have also been served by making the new guidelines,” he said.
While announcing the package on March 26, the finance minister had said that the government will announce more of that package depending on the evolution of the situation.
To contain the spread of the pandemic, the government first imposed a 21-day national blockade from March 25 and then extended it until May 3. The blockade closed companies, stopped air and rail travel, and restricted the movement of people and goods.
Beginning May 4, the government decided to ease certain restrictions, including opening industries for green and orange districts that have zero or fewer cases.
The reduction of the restriction of specific districts is until May 17 with strict vigilance on the part of the local administration.
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