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lockdown: Revise, upgrade schemes to help MSMEs battled Covid-19: Gadkari

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WorldIndiaConfirmed5,865Deaths169Confirmed1,511,104Deaths88,338New Delhi: Union minister for micro, small and medium enterprises (MSMEs) Nitin Gadkari on Thursday has called for revision and widening the scope of existing schemes for MSMEs where required, to help the sector fight the impact of Covid-19.

“The minister urged the officials to go all out for the assistance of MSMEs by revising and upscaling the schemes after third party independent evaluation,” the MSME ministry said in a statement.

In a review meeting held by the minister on MSMEs after the country went into a 21-days’ lockdown for battling the Covid-19 outbreak, Gadkari asked officials of the MSME ministry to chart out a strategy for economic opportunities that will arise for MSMEs after the lockdown lifts.

The minister added that the recent relief measures announced by the Reserve Bank of India (RBI) should reach small enterprises once the lockdown is lifted.

“The RBI has announced relief measures recently, and the minister has asked us to ensure that the benefits of these measures reach MSMEs once we go into the recovery mode,” an official present at the meeting told ET.

Last month, RBI Governor Shaktikanta Das had announced that all term loans, including retail and crop loans and working capital payments, will be covered by the three-month moratorium.

Gadkari has also asked the ministry to reach out to stakeholders and industry associations to work out specific measures for MSMEs.

“We have been asked to expand our reach and look at addressing the pain points at the grassroot level,” a second official said.


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