Tuesday, June 28, 2022

Rs 1-trillion financial package for industry could be announced in 2-3 days: Gadkari

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  • Gadkari said that the ministry has already sent recommendations for relief measures to the finance ministry and the PMO

  • The minister also said that while the government will continue to support the industry, they will have to understand that the government finances are also under strain

New Delhi: Union Road Transport and Highways Minister Nitin Gadkari has said on Monday that the government is likely to announce a financial package for the industry in the next two-three days to provide them support to deal with the economic crisis created by the COVID-19 pandemic and the subsequent lockdown. “In two-three days somewhere expecting a package from the government, we are waiting for that,” Gadkari said in a video conference with members of industry and commerce of Telangana.

Gadkari, who also holds the MSME (micro, small and medium enterprises) portfolio, said that the ministry has already sent recommendations for relief measures to the finance ministry and the Prime Minister’s Office. The minister also said that while the government will continue to support the industry, they will have to understand that the government finances are also under strain.

Govt working on a Rs 1 trillion package for small businesses

In April, Gadkari had said that the government is working on a Rs 1 trillion package to ensure timely refunds of dues to MSMEs in the wake of the Coronavirus lockdown. The MSME sector, which employs millions of people, has been the worst-hit by the nationwide lockdown that has brought the economic to a standstill. While the government and the Reserve Bank of India have announced few measures to support the poor, farmers and small businesses, more relief packages to support each and every sector is due to be announced.

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