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Finance Min Lists Steps On PM's 'local' Push; To Disallow Global Tenders Up To Rs 200 Cr

While holding a press conference on Wednesday MoS Finance Anurag Thakur and emphasises on steps towards the 'local' approach.


While holding a press conference on the finer points of the Rs 20 lakh crore stimulus package announced by PM Modi, MoS Finance Anurag Thakur emphasised on steps towards the 'local' approach. PM Modi stressed on the need for citizens to promote local businesses as they have suffered a lot due to the Coronavirus forced lockdown. He urged citizens across the country to support local products and businesses by campaigning for them and also appealed to the citizens to be 'vocal for local' in an attempt to boost Indian businesses. 

READ: How India's $266 Bn stimulus compares with economic packages announced by other countries

Elaborating on the same, Finance Minister Nirmala Sitharaman said that global tenders in government procured tenders will be disallowed up to Rs 200 crores. She added that this will be a step towards Self-Reliant India (Aatmanirbhar) and support Make in India and will also help MSMEs to increase their business.

"Indian MSMEs and other companies have often faced unfair competition from foreign companies. Therefore, globals tenders will be disallowed in Government procurement tenders up to Rs 200 crores. Necessary amendments of General Financial Rules will be effected. This will be a step towards Self-Reliant India (Aatmanirbhar) and support Make in India. This will also help MSMEs to increase their business," said Finance Minister Nirmala Sitharaman.

The Prime Minister had highlighted that brands that are global today, were once just local. "From today, all citizen needs to be vocal for local. Not just buy local products but also campaign for them," the Prime Minister appealed to the citizens. 

READ: FM Nirmala, Home Secy at PMO for pre-package huddle; PM Modi to meet empowered group heads

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