Rs.3LCr Will Be A Strong Booster To Impact Over 45 Lakh MSMEs: Union Law Minister Ravi Shankar Prasad

Mumbai: Union Law Minister, Ravi Shankar Prasad on Wednesday said that the government’s announcement of allocating 3 Lakh Crores will be a strong booster to revive micro, small and medium sectors industries and will directly impact nearly 45 Lakh MSMEs.

“Finance Minister, Nirmala Sitharam has outlined the first series of follow up action as the PM indicated. What is important is 3 Lakh Crore of strong booster for MSMEs. This is going to directly impact nearly 45 Lakh MSMEs saving their jobs, business opportunities, making them more competitive. Even the definition of MSME has changed,” Union Minister told ANI.

Prasad lauded the government’s decision by calling it a ‘wholesome package’ for the country and fulfillment of the PM’s promise. 

He also praised the PM for announcing 20 Lakh Crore special economic package, “Prime Minister outlines a 20 Lakh Crore package for the country, designed to make India a competitive economy with stress on self-reliance, Aatmanirbharta, Make in India.”

Also Read: PM Modi Announces Rs 20 Lakh Crore Special Package For Economy

Finance Minister, Nirmala Sitharam on Wednesday announced a number of liquidity measures for small businesses amidst the coronavirus lockdown. According to this, a collateral-free 3 Lakh crore automatic loans to be given to small industries on considerable accounts.

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