comment from Mr. Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani.

Amid a country-wide lockdown due to coronavirus scare, businesses across states are going through a rough phase. After a slew of measures for extension of statutory and regulatory compliances, we welcome today’s announcement on relief package for the needy by FM to cushion the impact of coronavirus pandemic which is spreading its wings and impacting the economy. The package is covering around 80 percent of the population and this means there will be greater liquidity in the market. The decision to ensure direct benefit transfer of cash will put more money in the hands of the poor people and enhance consumption prospects. The move to utilise an existing Rs 31,000 crore welfare fund for the benefit of 3.5 crore construction workers will provide much needed relief for the real estate sector. Hence the various stimulus announced by FM to revive the economy will definitely give a breather to some extent. We also hope that the recent announcement made by our honourable Prime Minister Narendra Modi to set up a task force under FM will take all the necessary actions in the near future for the betterment of the overall economy.

Corporate Com India (CCI Newswire)