Former union minister and veteran Congress leader P.Chidambaram has came down heavily on union government over the financial package it has announced. The former finance minister has mocked
Union Finance minister Nirmala Sitharaman and Union minister for MSMEs and road transport and highways, Nitin Gadkari for solutions they have proposed for the problems of micro, small and medium enterprises (MSMEs).
“Minister Gadkari says that governments and PSUs owe Rs 5 lakh crore as unpaid dues to MSMEs” he tweeted. “Minister Sitharaman says she will offer collateral free loan of Rs 3 lakh crore to MSMEs numbering 45 lakhs”, Chidambaram tweeted again.
Will the two ministers ‘settle their accounts’ first and let MSMEs save themselves without government’s ‘help’?
— P. Chidambaram (@PChidambaram_IN) May 15, 2020
Earlier Nitin Gadkari had said government agencies are yet to clear dues to such enterprises amounting to more than Rs 5 lakh crore. “The position of MSMEs is worst as they are now engaged in a battle for their survival,” he added. He also said pendency of dues owed to MSMEs by the Centre, state governments, public sector undertakings and major industries is very high.
In the first phase of a stimulus package , Sitharaman had announced that Rs 3 lakh crore in collateral-free automatic loans for businesses, including MSMEs, will be provided to meet operational liabilities, buy raw materials and restart operations.
“So, who is the lender and who is the borrower? Will the two ministers ‘settle their accounts’ first and let MSMEs save themselves without government’s ‘help’?” Chidambaram asked,
Will the two ministers ‘settle their accounts’ first and let MSMEs save themselves without government’s ‘help’?
— P. Chidambaram (@PChidambaram_IN) May 15, 2020
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