FICCI shows need of Rs 4.5 lakh crore, welcomes PM Modi's economic package

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New delhi date. 13 May 2020, Wednesday

The Koro crisis has hit the country's economy hard. Prime Minister Narendra Modi on Tuesday announced a Rs 20 lakh crore relief package to revive the country's economy.

Many businessmen and financial institutions were requesting for this. Industry chamber FICCI also demanded Rs 5 lakh crore immediately to breathe new life into the economy, but FICCI was shocked when it announced a total of Rs 20 lakh crore to the Prime Minister.

FICCI President Dr. Sangeeta Reddy thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for announcing the economic package. He said, "This is a time when India needs to think of something broad-minded. This package gives strength to India's big dreams. This is an incredible step taken by the government."

"We hope that Finance Minister Nirmala Sitharaman will use this package for the poor, laborers as well as small traders and industrialists," he added. On the issue of self-reliant India, Sangeeta Reddy said change in land, labor and liquidity is very important. At the same time, FICCI said it would fully support Prime Minister Narendra Modi's Self-Reliant India campaign and work to strengthen the five pillars mentioned to the Prime Minister.

In a letter to Finance Minister Nirmala Sitharaman, FICCI said about Rs 4.5 lakh crore was needed to strengthen the economy and a package of Rs 2.5 lakh crore should be given immediately. Now that the Prime Minister has announced a Rs 20 lakh crore package, FICCI has welcomed it.

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