-Business Standard Govt likely to issue clarification to add more borrowers under ECLGS Finance Minister Nirmala Sitharaman on Monday held a review meeting with private banks and non-banking financial companies (NBFCs) to seek feedback to improve the Atmanirbhar Bharat Abhiyan economic package to deal with the impact of Covid-19. The private lenders asked the government to revisit some provisions in the Emergency Credit Line Guarantee Scheme (ECLGS), under which 100 per cent guarantee...
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The Great MSME Stimulus Muddle -Kulwinder Singh Sethi
-Newsclick.in The Rs 3 lakh crore Credit Guarantee scheme for micro, small and medium enterprises is unclear, contradictory and practically difficult to implement. The scheme may create more problems than it solves. On May 12, in his televised address to the nation, Prime Minister Narendra Modi announced the Atma Nirbhar Bharat Abhiyan or the “campaign to make India self-reliant,” comprising what was claimed to be a Rs 20 lakh crore package to...
More »Need new stimulus of Rs.10 lakh crore: Economists Collective
-The Hindu Economists urge cash transfers to 80% of households to revive economy. The Centre needs to announce a ₹10 lakh crore fiscal stimulus package providing universal food ration and cash transfers for 80% of households in order to revive the economy at this time, the Heterodox Economists Collective has urged. Employment guarantees must be expanded for both rural and urban workers at a time of soaring joblessness, the group of economists...
More »Modi Govt is Blind to the Crushing Jobs Crisis -Subodh Varma
-Newsclick.in Additional funds for MSMEs and MGNREGA are going to create enough jobs, but the economy will remain in doldrums. There has been much mutual patting on the back and self-congratulation, after the Narendra Modi government announced two policy measures that could have a direct impact on job creation. These were: a special credit line of Rs.3 lakh crore for MSMEs (medium, small and micro enterprises) and an additional allocation of Rs.40,000...
More »Will India's MSME Package do Enough to Blunt the Adverse Effects of the Lockdown? -Satya Mohanty
-TheWire.in India’s economic package for MSMEs is far reaching and reformatory. But does the rubber meet the road, as they say? Politics does not oblige its players to adhere to the truth. But two things are a big no-no and better avoided. The first is trying to meet multiple objectives with one instrument or decision and the second is Tom Sawyer-ing. Mark Twain’s character had a knack of getting other people to see...
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