The Prime Minister holds meetings to reaffirm the second stimulus to revive the economy affected by the blockade
NEW DELHI: Prime Minister Narendra Modi on Saturday he held a series of meetings with key cabinet ministers and economic officials to confirm the second stimulus package to lift the economy staggering under the impact of coronavirus-induced blockage.
Minister of the Interior Amit Shah El ministro de Hacienda, representantes de los ministerios de economy y altos funcionarios, incluidos los de la Oficina del Primer Ministro y la Secretaría del Gabinete, estuvieron presentes en las reuniones.
The Prime Minister also held talks with key economic ministries, such as agriculture and farmer welfare, and MSMEs to discuss various issues.
MIPYME Minister Nitin Gadkari Earlier in the day, he said his ministry had suggested an aid package to the prime minister and finance minister for the medium, small and micro sector and expressed confidence that an announcement would be made soon.
He chaired a meeting on strengthening our MSME sector, which plays a key role in economic development. There were extensive discussions on ways to make this sector more vibrant, attractive and ready to take advantage of new opportunities, the prime minister said in a tweet after the meeting.
During another meeting regarding the agricultural sector, various reforms in the commercialization of agriculture, the management of the marketable surplus, the access of farmers to institutional credit and the liberation of the agricultural sector from various restrictions with the appropriate support of the statute were discussed.
The focus was on making strategic interventions in the existing marketing ecosystem and carrying out appropriate reforms in the context of rapid agricultural development, according to an official statement.
The flow of credit under favorable conditions to strengthen agricultural infrastructure, the special saturation boost for PM-Kisan beneficiaries and the facilitation of inter and intra-state trade in agricultural products to guarantee a fairer return to the farmer were some of the important areas covers. Developing e-NAM on a platform of platforms to enable e-commerce was one of the important topics of discussion, he said.
Discussion also emanated on the possibilities of uniform statutory framework in the country to facilitate new ways for farming which will infuse capital and technology in agrarian economy , it said, adding, the pros and cons of bio-technological developments in crops or enhancement of productivity and reduction in input costs were also deliberated.
Later, the finance ministry also made a detailed presentation to the prime minister on the state of economy and several initiatives that it plans to undertake to stimulate India n economy .
During the deliberations, each ministry made recommendations and possible steps to be taken in the short term to shore up the sector they manage.
After a detailed review of each and every sector, an aid and stimulus package will be developed, the sources said.
The prime minister already had meetings with different ministries, including civil aviation, labor and power on Friday. On Thursday, he had a detailed discussion with the Ministry of Commerce and Industry, among others, with the aim of attracting domestic and foreign investment and the reactivation of small companies in the country to accelerate the recovery process.
During these meetings, both the Minister of the Interior and the Minister of Finance were present together with the Minister in charge of the ministries concerned.
To mitigate the difficulties facing the base of the pyramid, the government announced in late March a stimulus package of Rs 1.7 lakh crore that included free food grains and cooking gas for the poor and cash for poor women and the elderly .
Sources said the government is planning to announce a second dose of relief measures for the vulnerable segment and a stimulus package for the industry soon.
In his speech to the nation on April 13, the prime minister had expressed concern about the problems faced by poor and daily gamblers and farmers.
The government has made every effort to help them through Pradhan Mantri Garib. His interests have also been addressed in making the new guidelines, he said.
While announcing the package on March 26, the finance minister had said that the government will announce more of that package depending on the evolution of the situation.
To contain the spread of the pandemic, the government first imposed a 21-day national blockade from March 25 and then extended it until May 3. The blockade closed businesses, stopped air and rail travel, and restricted the movement of people and goods.
Beginning May 4, the government decided to ease certain restrictions, including opening industries for green and orange districts that have zero or fewer cases.
The reduction of the restriction of specific districts is until May 17 with strict vigilance on the part of the local administration.