Atmanirbhar Bharat: PM Hails Measures by FM, Oppn Raises Questions

Finance Minister Sitharaman on Wednesday announced several relief measures for MSMEs, real estate and taxpayers.

Updated13 May 2020, 03:12 PM IST
India
3 min read

Prime Minister Narendra Modi on Wednesday, 13 May, hailed the announcements made by Finance Minister Nirmala Sitharaman under the ‘Atmanirbhar Bharat Abhiyan’ economic package worth Rs 20 lakh crore and said that the measures will go a long way for businesses and MSMEs.

“Today’s announcements by Finance Minister Nirmala Sitharaman will go a long way in addressing issues faced by businesses, especially MSMEs. The steps announced will boost liquidity, empower the entrepreneurs and strengthen their competitive spirit,” he tweeted.

Finance Minister Nirmala Sitharaman on Wednesday announced several relief measures for MSMEs including several categories of collateral free loans, raised investment limits for micro enterprises and relief measures for taxpayers and real estate as a part of the ‘Atmanirbhar Bharat Abhiyan’ package announced by PM Modi on Tuesday.

Union Ministers, BJP Leaders Welcome Measures

Union Minister Nitin Gadkari welcomed the measures and called them a boost for rural businesses.

“We need to develop khadi and village industry because it is giving maximum employment in the backward area. Because of this lot of order is going to the village industries, khadi industries which is going to create more employment potential,” he said.

“That will be a great achievement for the rural labour, those who are particularly working in the area of tribal, rural and agriculture. So this is going to give a good boost to village industries,” Gadkri said.

BJP president JP Nadda took to Twitter to thank PM Modi and Sitharaman and called it a ‘holistic package.’

“I thank PM Narendra Modi Ji and Nirmala Sitharaman Ji for this holistic package and wide ranging steps to make India #tmanirbharbharat. In this testing time, we have a compassionate and responsive govt under the leadership of our Prime Minister Modi Ji,” he tweeted.

Union Minister Piyush Goyal said that the measures will boost confidence in the markets.

“Announcements of Rs 30,000 crore special liquidity scheme for NBFCs etc, collateral-free loans and provision of Rs 20,000 crore as subordinate debt for MSMEs etc, all measures will create confidence in the market. PM has set foundation for rapid recovery of Indian economy,” Goyal said.

Uttar Pradesh CM Yogi Adityanath too welcomed the announcements.

“I thank Finance Minister Nirmala Sitharaman for announcing Rs 3 lakh crore loans to MSME sector. Uttar Pradesh has the largest number of units linked to MSME sector. I also welcome the Finance Minister’s announcement on EPF contribution,” Yogi said.

Madhya Pradesh CM Shivraj Singh Chouhan also thanksed Sitharaman for giving a boost to small businesses.

“Relief measures for MSME sector announced by finance minister today, are truly the roadmap to build Atmanirbhar Bharat. I believe that the economic package by PM will help MSMEs. Small industries, micro industries and medium industries will be boosted and it'll increase job opportunities,” Chouhan said.

‘Nothing for Migrants, States’: Opposition Raises Questions

Former Finance Minister and Congress leader P Chidambaram said that none of the measures give relief to the poor and migrant workers.

“There is nothing in what Finance Minister said today for the lakhs of poor, hungry and devastated migrant workers walked and many thousands are still walking back to their home states. It's a cruel blow to those who toil everyday,” he said.

“There is also nothing by way of cash transfer to the bottom half of the population - 13 crore families who have been pushed into destitution,” he added.

“The Finance Minister announced some support measures for MSMEs, although my comment is, the measures were skewed in favour of the larger MSMEs – about 45 lakh MSMEs. I think the bulk of the 6.3 crore MSMEs were left high and dry,” Chidambaram said.

TMC supremo and West Bengal CM Mamata Banerjee said that no relief was given to the states.

“People expected to get relief, but it’s a big zero. There is nothing for the states,” she said.

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

The Quint is now available on Telegram & WhatsApp too, Click here to join.

Published: 13 May 2020, 01:41 PM IST

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!