Nirmala Sitharaman Disappoints on 20 Lakh Cr Package

Amid sky high expectations from people and organizations of various sectors, the finance minister Nirmala Sitharaman convened a press meet on Wednesday to disclose the details of Rs.20 lakh crore stimulus package proclaimed by the PM Narendra Modi on Tuesday night. 

However, leaving a sheer disappointment to most of the sections, she hasn't divulged any sops as expected. Instead, she said the details of the package would be revealed in stages on daily basis. 

"After wide and deep consultations of several sections in the society, the inputs obtained from them were in due consideration, a stimulus package was announced aiming at Self-Reliance India," the finance minister said insisting 'Confident India' slogan initiated by the PM. 

Recalled PM's five pillars policy, the FM added, "Our idea is to promote local brands to global level and the focus will be on liquidity, labour, land and law." 

But then, here is a big booster shot from the FM on Ministry of Small & Medium Enterprises (MSME) sector. "6 major relief measures have been taken for MSME sector. They will be offered 3 lakh crore collateral free loans. Over 45 lakh MSMEs will benefit with this scheme. And the loans can be recovered in 4 years with 12-month moratorium . Meanwhile, 20000 crore will be provided for stressed MSMEs," Nirmala Sitharaman detailed.