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LATEST NEWS UPDATES | Demand first, please, and then loans -Devadeep Purohit

Demand first, please, and then loans -Devadeep Purohit

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published Published on May 14, 2020   modified Modified on May 15, 2020

-The Telegraph

'Wish there were announcements on government spending'

Kolkata: Like many Indians, a young businessman keenly awaiting the fine print of Prime Minister Narendra Modi’s Atmanirbhar Bharat Abhiyan (Self-reliant India Mission) placed himself before a television screen around 4pm on Wednesday.

The businessman did not have to brush up his language skills to understand finance minister Nirmala Sitharaman but he came away with a sense of déjà vu.

“I heard that I will have easier access to credit but I have already had that,” said the second-generation businessman whose engineering unit on the outskirts of Calcutta has been shut for 50 days.

He said several banks had been chasing him with loan offers, which he has been refusing as he does not have enough “works” (projects or orders) to make use of the money.

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The Telegraph, 14 May, 2020, https://www.telegraphindia.com/business/coronavirus-lockdown-what-factories-think-of-economic-package/cid/1772781


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