PM Gareeb Kalyan Scheme will take care of the poor and vulnerable, Says FICCI

The government came out with a comprehensive Rs 1.7 lakh crore PM Gareeb Kalyan package to support the most vulnerable and needy sections of the society who are facing the brunt of situations created by the spread of coronavirus. "The steps announced by the government are critical and substantial to help the most vulnerable sections of the society through the immediate crisis. The government has also shown that it's determined to act with urgency and impact both to keep the citizens safe and also to mitigate their economic hardship. FICCI also supports the government's approach to start the relief measure with the bottom of the pyramid as they are the ones who need it most urgently both in urban and rural India," said Dr Sangita Reddy, President, FICCI.

"Once again we see the government being swift in its actions and extremely responsive to the requirements of the day. The crisis facing the nation not just relates to health, but it is a larger economic and humanitarian crisis and requires the kind of response we saw today from the Finance Minister. We needed at this hour to assure the poor and vulnerable sections of society that the government and the country stands with them and would not let them suffer on account of want of food, healthcare or money to meet their daily requirements. The announcements offer relief to a very large section of society and we are encouraged to note that all the steps announced come into force with immediate effect," said Dr Reddy.

"The disruptions caused by covid-19 and its spread are massive. We see dislocations across sectors. There is a large-scale movement of people taking place as economic activity comes to a halt. Amidst this, it was important to highlight that by staying back at home, one's economic and social needs will be catered to by the government. Through the large- scale cash transfer program announced by the government, we will see this intended impact. The government has tried to utilise the infrastructure of bank accounts and DBT created over time and is putting it to good use," she said.

Meanwhile, FICCI looks forward to the next set of announcements by the Finance Minister aimed at the corporate sector that is also essential to keep the economic fabric of the country intact and we are hopeful that same will be announced in quick succession.

Powered by Capital Market - Live News