New Delhi: Congress president Sonia Gandhi on Saturday (April 25) urged Prime Minister Narendra Modi to announce a financial package for the revival of the MSME sector, saying if ignored, the problem can have a devastating and expansive ripple effect on the country’s economy.
In a letter to Modi, Gandhi mde five-point suggestions for the revival of the Micro, Small and Medium Enterprises (MSME), which is reeling under the adverse impact of the coronavirus lockdown.
She urged the Prime Minister to announce a Rs 1 lakh crore ‘MSME Wage Protection’ package, which would help in shoring up these jobs, boosting moral as well as alleviating the predicted economic spiral.
While highlighting the crisis, she said MSME sector is suffering around Rs 30,000 crore loss every day due to the lockdown and efforts should be made to help revive them as they are the backbone of the economy.
“If ignored, this issue has the potential of having a devastating and expansive ripple effect on our economy,” she said in the letter.
She also added that as the nation continues to fight against COVIDd-19, it essential to highlight an economic concern that needs immediate attention and intervention.