( Kajal Singh intern journalist)
New Delhi: The government is working on a comprehensive financial package for all sectors of the economy, including the MSME. A top official informed about it on Thursday.
Giridhar Armane, Secretary in the Ministry of Road Transport and Highways, said that the government, the Prime Minister’s Office, and the Department of Economic Affairs is already working on a package that includes not only MSMEs but the entire industry.
A comprehensive package for all sectors of the economy is being taken care of and working on it. He gave this information during a conversation with members of the SIAM (Society of Indian Automobile Manufacturers) Institute through video conferencing. MSME and Road Transport and Highways Minister Nitin Gadkari who attended the meeting also said that ‘a package is going to be announced’.
The package is being sought by industry bodies and MSME experts to boost the economy. India’s Micro, Small and Medium Enterprises (MSME), which provides major employment contributes 29 percent to the country’s growth and 48 percent to exports. However, due to the coronavirus pandemic, the region is facing a huge crisis, millions of units are in deficit and there is a possibility of job cuts.