Director General of Confederation of Indian Industry, Chandrajit Banerjee, on May 13 reacted to Finance Minister Nirmala Sitharaman's recent announcements in the day.
He said, "FM unveiled a very impactful package under the 1st tranche of Aatmanirbhar Bharat Abhiyan as demanded by dire consequences that the economy is reeling under because of COVID-19.
We particularly welcome the relief package provided to MSMEs." Recently, FM Sitharaman announced that Micro, Small and Medium Enterprises (MSMEs) will get collateral free automatic loans worth Rs 3 lakh crore as part of COVID-19 economic package announced by Prime Minister Narendra Modi.
She said, "Collateral free automatic loans to MSMEs worth Rs3 Lakh Crore.
These have 4 year tenor, valid up to October 31st, 2020."