At a press conference on Wednesday, Finance Minister Nirmala Sitharaman unveiled measures to help the MSME sector. Here’s what is likely to happen at a second presser today.
- Fin Min likely to address supply chain disruption
- Announced measures to reboot MSME sector earlier
- Congress says no provisions for migrant workers
Finance Minister Nirmala Sitharaman is likely to announce measures to help the agriculture sector and allied activities at a press conference later today. She’s also likely to address supply chain disruption and ways to resolve issues.
This follows a Wednesday presser where Sitharaman and Anurag Thakur, the Minister of State for Finance, unveiled a series of measures to address challenges for MSMEs and liquidity issues faced by financing companies such as NBFCs, HFCs and MFIs. (Read more here.)
Earlier this week, Prime Minister Narendra Modi announced a Rs 20 lakh crore economic package to fight the coronavirus crisis and make India self-reliant. He said on Wednesday that the measures announced by 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 said.
But former Finance Minister P Chidambaram said his party, the Congress, was disappointed with the announcements, except for the “modest” MSME package.
There was nothing in the new measures for migrant workers walking back from cities to their home states, he said, calling it a “cruel blow to those who toil every day”.