Categories: Business

Financial package for MSME expected to be announced soon: Gadkari

MSME Sector

new Delhi. Union Minister Nitin Gadkari has said that he hopes to soon announce a financial package for micro, small and medium industries (MSME) by the government. The MSME sector contributes 29 percent to the country's economic growth and 48 percent to exports. The sector also plays an important role in generating employment. However, the region is going through a great crisis. Millions of units are going through losses due to Corona virus disease and at a time when they are struggling with their existential crisis, employment prospects are also getting bleak.

The MSME Minister said that this situation is being considered seriously in the government and we are making all possible efforts at our level. We are in talks with all the concerned parties and various departments are also being discussed with each other. We are making every effort to get a better package for the MSME sector. The problem in this area is very serious and we are supporting them in such a situation. Gadkari told a TV news channel that I hope that the package will be announced by the government as soon as possible.

He also said that a special joint secretary has been appointed for better coordination with the state governments and foreign companies who wish to invest in India. Gadkari said that all kinds of clearances will be given to foreign companies within three months with better respect and facilities in the country.

This post was published on May 5, 2020 9:23 pm

Content Team

Recent Posts

Domestic fuel demand recover in June Up 11 percent over may

Photo: GOOGLE Fuel demand recover new Delhi. Fuel demand continues to improve after the lockdown imposed in the country due…

Higher off take by FCI due to covid 19 scheme can boost procurement agencies liquidity

Photo: GOOGLE FCI Procurement new Delhi. The operating cash flow (CFO) of the States procurement agencies (SPA) is expected to…

India now second biggest investor in UK

Photo: AP FILE India now second biggest investor in UK new Delhi. Among the countries investing in Britain, India has…