Manipur: CM welcomed 20 lakh crore mega economic stimulus package announced by Prime Minister

Imphal, May 13 2020: Chief Minister N Biren Singh has welcomed the Rs 20 lakh crore mega economic stimulus package announced by Prime Minister Narendra Modi aimed at uplifting the economy battered by the Nation-wide lockdown and COVID-19 pandemic.

In a video message, the Chief Minister stated that it was a bold step taken by the Central Government as the package is equivalent to 10 per cent of India’s GDP.

Elaborating the key points announced by the Union Finance Minister Niramala Sitharaman in this regard under Atma Nirbhar Bharat Abhiyan (Self Reliant India Movement), the Chief Minister expressed hope that the State would also benefit in multiple sectors.

CM welcomes Centre's mega economic package
CM welcomes Centre’s mega economic package

Informing that the Central Government has announced to provide Rs 3 lakh crore collateral-free automatic loans for MSMEs, having a four-year tenure and moratorium of 12 months, N Biren Singh said that Manipur being a State having highest number of MSMEs in the North East region will benefit largely.

Redefining the MSME sector will also create huge opportunities for the people of the State as the investment limit has been revised upwards to Rs 1 crore as compared to Rs 25 lakh earlier.

As the Centre has decided one-time liquidity infusion of Rs 90 crore for all power distribution companies (Discoms), MSPDCL is likely to get a huge relief in repaying dues, the Chief Minister said.

He further said that as Fisheries Department is being upgraded to a major Department as per the announcement, Manipur can reap benefits from this decision as the State is suited for fisheries.

Regarding Government’s efforts in bringing back Manipuris stranded in different States, the Chief Minister said that around 1,140 State natives have reached Jiribam in a special train from Chennai today.

He also appealed to those who have recently returned to the State to disclose their travel histories “honestly” so that the authority may take up necessary measures to curb the spread of the coronavirus.

He further stated that more stranded people will be brought back very soon.

Stating that the Government has been putting in its best possible effort with the limited resources to contain the virus, the Chief Minister appealed the people of the State to co-operate and encourage the steps taken up in this regard.