ASSOCHAM, FICCI welcome announcement of first tranche of measures by FM
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New Delhi, May 14: Industry Body ASSOCHAM and FICCI have welcomed the announcement of first tranche of measures by Finance Minister Nirmala Sitharaman as part of the 20 lakh crore rupees economic package. "It will provide immediate relief to the MSMEs, micro finance institutions, housing finance companies, stressed real estate and construction sectors to mitigate the enormous impact of the nation-wide lockdown due to Covid-19 pandemic", ASSOCHAM Secretary General Deepak Sood said.
He said, assuring 100 per cent government guarantee on 3 lakh crore rupees collateral -free loans to the MSMEs for a four-year term and one-year moratorium is a major step towards reviving the MSME sector. "It is clear from the first tranche of measures that the mega package announced by the Prime Minister yesterday would be all-encompassing , going well beyond the fiscal stimulus. He said, the reforms are clearly aimed at the 'Atma Nirbhar Bharat Abhiyaan'", he added.
A big Thank You to PM Mr @narendramodi and FM Ms @nsitharaman! It’s time for India to dream big. What this package does is, it strengthens the dream of a strong India. It’s a good step towards a great India: FICCI President Dr Sangita Reddy.#FICCISpeaks #AatmanirbharBharat pic.twitter.com/0A0rnVIsoW
— FICCI (@ficci_india) May 12, 2020
President of Federation of Indian Chamber of Commerce and Industry, FICCI Dr Sangita Reddy meanwhile noted that with today’s comprehensive set of announcements, the stage is now set to rebuild the Indian industry and economy. She said, "the series of measures have given them the confidence that our government is ready and will lead from the front in taking India out of the covid-19 storm and emerge bigger and stronger", thanking the Finance Minister for the Stimulus Package in the ensuing days.