Views of Dr. Niranjan Hiranandani as appended below on the FM relief Package.

Dr. Niranjan Hiranandani, President – Assocham & NAREDCO ecstatically welcomes the relief package announced by the Hon’ble FM. He said that “at the time when the nation is struck with natural disaster and grappling with Pandemic crisis, Govt of India announces Rs 1.7 lakh crore relief packages for the poor and marginalized segments of the society. These initiative aims to provide a buffer & facilitate the basic needs of economically weak people who have no other means of being shielded from the crisis.

The widely covered unorganized sectors including agrarian and Construction laborers, these moves aim at resolving primary problems of the poor. Similarly, for the organized sector, EPF contribution by the Government for some segments of workers will play an important role in ensuring that the bottom of the pyramid is able to handle the challenges of the lockdown.

Nearly 80% of construction workers fall under the unorganized sector, worker’s welfare fund of Rs 31,000 crs to be utilized exclusively for construction workers would benefit 3.5crs workers directly. It will help to mitigate epidemic loss  

While welcoming these moves, one hopes that other segments of society, who are also looking forward to measures such as EMI waivers as also an extension of loan scheme tenures, among others economic the package shall be on a wait and watch mode.

The Finance Minister deserves praise for having announced the relief measures, responding to the challenge of the lockdown following the COVID-19 pandemic.

Corporate Comm India (CCI Newswire)