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Union Minister Nitin Gadkari, in response to announcements by Finance Minister Nirmala Sitharaman, for small businesses affected by the coronavirus crisis and weeks of closure, said creating positivity in the circumstances was challenging.
“We have to understand the art of living with a crown. This is not a natural virus. It is an artificial virus and now many countries around the world are researching for a vaccine. The vaccine is not available, it is available. Hopefully the vaccine be available as soon as possible, then there will be no problem, “said Nitin Gadkari in an interview for NDTV.
“The second problem is the detection methodology. We need a good methodology for that, so that we can identify the virus immediately. This is unexpected because it is a laboratory virus, it is not a natural virus, so the world It is now ready, India is now ready, the scientists are ready. After finding a solution for that, we can build confidence. After taking a vaccine there will be no problem, “he said, adding that this will alleviate fear.
Gadkari, the minister in charge of micro, small and medium-sized enterprises and also road transport, said that migrant workers stranded by the coronavirus blockade across the country left out of fear, and expressed the hope that they would return when the companies reopen. “We need to fight the coronavirus, but we are also fighting an economic war. We are a poor country and we cannot increase the blockade from month to month,” he said.
Thousands of migrants were left without jobs or homes when the country closed in late March and made their way to their villages on foot, by bicycle or by truck. Many did not make the trip, losing their lives due to exhaustion and hunger or accidents on the road.
On Tuesday Prime Minister Narendra Modi had announced a rupee package of Rs 20 lakh to help various sectors overcome the virus crisis.
As part of that package, the government today announced Rs 3 crore for unsecured small business loans and a lifeline of Rs 30 crore for non-bank and housing finance companies as part of measures to help revive an economy hit by the coronavirus blockade.
In addition, it reduced the tax rate on non-salary payments by 25 percent, extended support for companies to meet legal responsibility for the employee retirement fund, provided a bailout of Rs 90 billion rupees to companies Electricity distribution they had no money and gave construction companies up to six more months to complete government projects.
Today’s announcement was the first of many measures that the Finance Minister will present in the coming days.
In addition, the definition of MSMEs has been changed from a pure one based on investment to one that provides greater investments and turnover so that companies remain small companies and take advantage of financial and other incentives.
Small and medium-sized companies in India account for about a third of gross domestic product and employ more than Rs 11 million, and the package announced on Wednesday aims to help them overcome disruptions of the coronavirus.
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