Aiming to boost economic activity and to support the sectors that are severely hit because of the pandemic in the country, finance minister Nirmala Sitharaman on Monday had unveiled a mega package. Business and industry leaders have welcomed the package pegged at Rs6,28,993 crore.
Welcoming the package, the trade and industry captain from Gujarat have termed is a package that will keep business afloat. “I congratulate the finance minister for the relief package and steps announced to support the Indian economy. The industry is happy to find the liquidity boosting measures are perfect in place to keep the enterprise afloat in the aftermath of the 2nd wave of COVID in the form of extending a loan facility of Rs. 60,000 Cr to the COVID hit sectors.” Jaxay Shah, Chairman of Assocham’s western region said.
The package includes fresh relief measures for the economy, the first such package after the second COVID-19 wave, focusing largely on extending loan guarantees and concessional credit for pandemic-hit sectors and investments to ramp up healthcare capacities. The chamber also praised measures announced to boost support to small and medium enterprises.
“Deepest gratitude to finance minister for announcing such timely measures to address the severe cash flow distress that took place after the second wave. We are sure of the fact that the announcement of a slew of measures such as loan guarantees for stressed sectors including small borrowers, in addition to increasing the scope of ECLGS by Rs. 1.5 lakh crore is praiseworthy.” Chintan Thaker, Chairman, Assocham, Gujarat Council said.