Hyderabad: Mr Krishna Bodanapu, Chairman CII Telangana thanked the Finance Minister for the comprehensive and well planned financial package announced by the Centre.
He said that it will provide much-needed relief to the stressed MSME sector. One of the biggest relief announced is the Collateral free automatic loans. The Cap up to 200 crores for global tenders will help the local MSMEs to compete with the big players. Also redefining the MSMEs will enable them to scale up without losing the benefits of MSMEs. Overall a much-needed relief package for the MSMEs.
Mr Abhijith Jayanthi, Co-Convenor, CII Telangana MSME Panel, CII thanked the Government for putting up a decisive step forward during these unprecedented times.
The Quantum of support extended is definitely an encouraging step, however, spelling out a cap on interest, to extend guarantee cover on principal and interest for up to 100% shows the intent, to cut procedural delays and ensuring swift implementation. Another announcement which will positively impact MSMEs is to restrict PSU tenders up to 200 Crores for local vendors – this will not only support the local MSMEs but also will enable investment flows into our MSMEs he said.