Exporters laud MSME package, Cong worries for artisans

Varanasi: While the exporters and industrialists of the city welcomed the economic package for MSME sector, a Congress leader said that Prime Minister Narendra Modi has ignored the artisans of his own constituency which is known for its large network of MSMEs and cottage industries.
The PM had on Tuesday announced a special economic package of Rs 20 lakh crore during his address to overcome the adverse impact of the Covid-19 lockdown and boost the economy. Giving details of the package on Wednesday, union finance minister Nirmala Sitharaman announced the package of Rs 6 lakh crore for MSME sector.
Expressing happiness over the economic package, chairman of Carpet Export Promotion Council (CEPC) Siddh Nath Singh said that the package would push local brands to be more competitive at the international level. “It is appreciable that the collateral free automatic loans be worth Rs 3 lakh crore will be provided to MSMEs. The Rs 20,000 crore subordinate debt for stressed MSMEs is likely to benefit two lakh MSMEs,” he added.
CEPC executive director Sanjay Kumar said, “In order to ease financial stress as businesses get back to work, the government has decided to continue EPF support for business and workers for three more months providing a liquidity relief of Rs 2,500 crore. This is commendable.”
“To provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts would be reduced by 25 per cent of the existing rates. This will help reduce financial distress,” he added
“The special economic package has energized the entrepreneurs of MSME sector. This package will prove to be a milestone in putting the country’s economy on right tracks,” said vice president of Indian Industries Association (IIA) RK Chowdhary.
However, the Congress leader Gaurav Kapoor, who is associated with the party’s research wing, is not happy with the package. “There is no separate relief package for PM’s own constituency Varanasi,” said Kapoor, adding that no heed was paid to the artisans engaged in wooden toy making, metal craft, pink enamelling, soft stone work and other handicrafts. The women engaged in jari and zardozi works and the boatmen community were also forgotten,” he added. He further said that the corona warriors should be brought under insurance coverage.