Economic package has given hope to MSMEs: Odhisa CM

Bhubaneswar (Odisha) [India], May 13 (ANI): Odisha Chief Minister Naveen Patnaik on Wednesday said that economic package announced by the Finance Ministry has given hope to the Micro, Small and Medium Enterprises (MSMEs) in the country.

"The economic revival package announced by the Finance Ministry has given hope to the Micro, Small and Medium Enterprises sector in the country. The stimulus package will generate lakhs of jobs for workers in the vast MSME sector," Patnaik said.

He said that this assistance will mitigate the distress of working-class who were impacted by COVID-19 pandemic.

"The package for employment and economic revival will now largely mitigate the distress of working class who were impacted by COVID-19 pandemic and nationwide lockdown thereafter," Patnaik said.

Earlier in the day, Union Finance Minister Nirmala Sitharaman announced a series of steps including Rs 3 lakh crore collateral-free automatic loans for businesses, including MSMEs.

The announcements came a day after Prime Minister Narendra Modi announced a Rs 20 lakh crore special economic package amid extended nationwide COVID-19 lockdown. (ANI)