Last month, When PM Narendra Modi in his address to the nation, gave a clear call for an 'Atmanirbhar Bharat', a message seemed to have developed amongst the masses against the products that we import. This expression was more specifically targeted towards our immediate neighbor, China- a country that has been declared guilty of spreading and even manufacturing the novel coronavirus. Not too far from the LAC (Line of Actual Control) in Ladakh, Sonam Wangchuk, engineer, innovator, and the inspiration behind popular Hindi film 3 idiots, took to social media platform to promote the boycott of all products made in China. Wangchuck's video crossed 20L views in two days but he went on to assert that these should be converted into something concrete that would bite the Chinese government. With all this in the air, the billion-dollar question that needs an immediate answer is how feasible is it to talk about insulating ourselves from the flooding of material from this global ...
WHY SUPPORT MSMEs The primary focus of the economic package announced by PM Modi was to alleviate the distress in the Micro, Small and Medium Enterprises (MSMEs) sector that lies in the very core of the Indian economy and is an employer of around 11 crores (110 million) individuals, including huge migrant forces of the country. 6.11% of manufacturing GDP and 24.6% of service GDP is contributed by MSMEs. They nearly account for 16% of bank lending. There exist an estimated 63 million small businesses across the nation. Many of these were adversely impacted by the demonetization policy of 2016 and the rollout of The Goods and Services Tax in the very net year. The virus can cause them great trouble unless the govt. offers some support. The 16 particular announcements in the first tranche cut across sectors that range from NBFCs and MSMEs to power distribution and Real Estate and the Salaried, the overarching theme was Liquidity Infusion. This world hopefully p...
Indian Government has announced plans to assist Small and Medium Enterprises as a part of their Rs. 20 lakh crore ($266 Billion) economic package. This economic package is nearly 10% equivalent to 10% of India's GDP. Nirmala SItharaman, Finance Minister quoted certain measures which are announced in these few days with reference to the use and allocation of the package . Let's discuss them:- FM Sitharaman quoted "The measures will boost growth and build a self-reliant India. She further added that "The intention is to invest in local brands and make them world-class. It's about being isolationist or looking inwards, it's about a confident and powerful India that contribute to the world. This includes an emergency credit line of collateral-free loans worth $40 billion to safeguard jobs and reuse business activities in the wake of India's lockdown 4.0 to contain coronavirus. To infuse the much-needed liquidity into India's power dis...
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