Union Minister in charge of Road Transport and Highways and Micro, Small and Medium Enterprises Nitin Gadkari, who was the guest at the Indian Express e-adda on Monday, said the vision of the government for the country’s economic revival was “perform, reform, transform”. He also said the Centre and Central PSUs would clear pending MSME dues in 45 days.
“The govt has pumped in Rs 20 lakh crore. We need maximum investment in power, road, infrastructure sector by increasing liquidity into the market. This liquidity will increase the speed of the country’s economic wheel. We also need economic reforms,” Nitin Gadkari said.
Amid the health challenges posed by Covid-19, two key sectors are crucial for the country’s economic revival — transport infrastructure and MSMEs, for which the government has announced a full credit guarantee on fresh loans up to Rs 3 lakh crore.
Maintaining that besides fighting the war against coronavirus, the government was also fighting an economic war. “Banking system is facing crisis. The MSMEs are also in a problem. Very crucial time for Indian economy. We need to consider the problem of the poor people. Gareeb, Mazdoor and Kisan have to be looked after,” Gadkari said.
The survival and revival of MSMEs is at the heart of the Rs 20 lakh crore package announced by the government over the week, and more measures are expected to breathe life into the economy. Gadkari also said there was a need to pump liquidity into the markets for revival of economy.