With the MSME segment contributing to output and providing widespread employment, successfully supporting it is money well spent.
As big as the Rs 20-trillion package is PM Modi's new economic paradigm on self-reliance
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'Self-reliant India' package is around 10% of GDP; lockdown 4.0 is on with new guidelines
Following the announcement of a Rs 20-trn package, the Nifty contracts traded on the SGX shot up 5%, while the American depository receipts (ADR) of Indian companies gained between 3% and 10%.
The moot question would be how the Government will fund this package.
PM Modi said the Rs 20 trillion economic package was for the country's labourers, farmers, honest tax payers, MSMEs and cottage industries
Rajnish Kumar said, "a certainty on regulatory stance, and support that may be coming from the government, is required as we are now in the exit phase of the lockdown."
Union Minister for MSME and Road Transport and Highways Nitin Gadkari said "a package is going to be declared".
Assocham President Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of I-T, VAT, and GST, and compensation
The World Bank recently warned that South Asia faces its worst economic performance in 40 years due to the deadly coronavirus pandemic
Friday's meeting follows a wide range of deliberations held within the government and with eminent experts.
The former NITI Aayog Vice Chairman said that India, like nearly all other countries in the world, faced "difficult choices" against the pandemic
Sitharaman also assured the global community that India would continue to supply critical medicines to needy countries for the treatment of Covid-19 patients
"Even if we start producing, where is the transport, supply chain and customers? If shops are not open, then it makes no sense to keep producing and stocking in the factory sites," said Singhania.
Tackling Covid-19 should open the door for urgent economy-wide reforms
The sharp rebound was underpinned by trillion dollars' worth of stimulus packages, announced by major central banks
The paper checks are scheduled to be issued at a rate of 5 million each week until September, starting with the lowest-income taxpayers
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