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Announce Rs 1 lakh-crore MSME wage protection package, Sonia Gandhi writes to PM

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Coronavirus Covid-19 India Tracker latest updates: The central government Friday eased curbs on select shops outside municipality areas with 50 per cent workers and mandatory precautions like wearing of masks and social distancing norms.

 

With more than 1,000 people testing positive for the novel coronavirus (Covid-19) since yesterday, India’s tally inched close to 25,000 on Saturday with confirmed cases at 24,942, as per the latest update from the Union Health Ministry. While the death toll increased to 779, as many as 5,210 persons have been cured or discharged or migrated. Maharashtra continued to be the worst-affected state with the most number of cases (7,628) and 323 deaths and is followed by Gujarat (3,071 cases and 133 deaths) and Delhi (2,514 cases and 53 deaths).

 

‘Revive, strengthen MSMEs’: Sonia Gandhi writes to PM Modi

Congress President Sonia Gandhi in a letter on Saturday urged Prime Minister Narendra Modi to strengthen medium, small and micro enterprises. “Govt has acknowledged MSMEs to be the backbone of our economy. It is time it takes measures to ensure revival and strengthening of that backbone. This is a case where timely and decisive action can make all the difference,”Gandhi wrote.

Among the demands put forward by Gandhi were:

  • Announcement of Rs 1 lakh crore ‘MSME Wage Protection’ package
  • Establishment and deployment of credit guarantee fund of Rs 1 lakh crore
  • Actions taken by RBI must reflect in actions of commercial banks so that the MSMEs get hassle-free, timely credit
  • Expansion and extension of RBI’s moratorium on payment of loans
  • Issues like high collateral security, high limits on ‘margin money’ leading to lack of access to available credit must be addressed

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