Credit and finance for MSMEs: With coronavirus puncturing India’s economic growth, the country now needs Foreign Direct Investment worth Rs 50 to 60 lakh crore to get back on the growth track and increase liquidity into the market.
Credit and finance for MSMEs: With coronavirus puncturing India’s economic growth, the country now needs Foreign Direct Investment worth Rs 50 to 60 lakh crore to get back on the growth track and increase liquidity into the market. The money can be tapped mainly through infrastructure projects as well as MSME sector as the coronavirus-hit economy needs a major push, Union minister Nitin Gadkari told PTI in an interview. “Country at this juncture needs liquidity. Without liquidity our economy’s wheel will not accelerate… Rs 50-60 lakh crore foreign investment is needed in the country under present circumstances to boost the economy,” said Nitin Gadkari, who is minister of both transport and SMEs.
Since the government imposed a nationwide lockdown on 24 March 2020 to curb the spread of coronavirus, economic activities have been significantly disrupted. The country now needs a liquidity boost and various Infrastructure projects such as highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, as well as Micro, Small and Medium Enterprises (MSMEs) can attract large scale foreign investment.
Source: Financial Express
