NEW DELHI: Amid the massive outage of people due to Corona virus epidemic and ‘lockdown’, the country’s largest industry body Confederation of Indian Industry (CII) says that the central government would have given loans to companies at cheaper rates People’s jobs would be safe. but that did not happen. He also says that things have looked better in the agriculture sector in this entire crisis and it has given a confidence. In this context, CII Director General Chandrajit Banerjee has given five questions and their answers.
He said that the announcement of Rs 21 lakh crore package by Finance Minister Nirmala Sitharaman is a better combination of encouragement and reform. This will certainly have a positive impact on the economy not only in the short term but also in the medium to long term. Banerjee said that it is true that most of the reforms announced under the economic package will have an impact in the medium to long term. However, some short-term measures have also been announced, such as loan guarantee for small industry (making loans of Rs 3 lakh crore without any guarantee). This will provide easy credit to the MSME (micro, small and medium enterprises) sector most affected by the Covid-19 crisis. This will increase investment, provide employment and accelerate demand. Eventually the economy will pick up.
