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'Economic Package For Those Who Have Already Looted Country, Nothing For Poor': AAP MP

AAP MP Sanjay Singh on Wednesday targeted the Union government over Rs 20 lakh crore economic package announced for dealing with novel Coronavirus crisis.

AAP

Aam Aadmi Party (AA) MP Sanjay Singh on Wednesday targeted the Union government over Rs 20 lakh crore economic package announced for dealing with COVID-19 crisis. He stated that there was nothing for the poor in it and it was 'meant for those who have looted crores of rupees in the name of non-performing assets (NPA)'.

'They have been left at the mercy of Almighty'

"One thing is clear in the economic package that the unscrupulous people who have already looted millions of crores of rupees in the name of NPA, the government has made arrangements for them to loot the country again. There is nothing for the poor, they have been left at the mercy of the Almighty," Singh tweeted.

Finance Minister Nirmala Sitharaman on Wednesday announced a slew of measures for various sectors, including MSMEs, hit by COVID-19-induced lockdown.

  • Rs 3 lakh crore emergency working capital facility for businesses, including MSMEs
  • Rs 20,000 crore subordinated debt for stressed MSMEs
  • Rs 50,000 crore equity infusion through MSME Fund of Funds
  • A new definition for MSMEs
  • No global tenders for govt procurement worth up to Rs 200 crore to promote MSMEs
  • Extention of EPF support for business organised workers for another 3 months
  • Rs 30,000 crore special liquidity scheme for NBFC/HFC/MFIs
  • Rs 45,000 crore partial credit guarantee scheme 2.0 for liabilities of NBFCs/MFIs
  • Rs 90,000 crore liquidity injection for stressed discoms
  • Relief to contractors given by providing an extension of up to 6 months to complete projects
  • States are being advised to invoke the force majeure clause under RERA.
  • Reduction in rates of Tax Deduction at Source, Tax Collected at Source by 25 per cent for specified non-salaried payments
  • Extension of deadline for payment without additional amount under "Vivad Se Vishwas" scheme extended till December 31.

READ | Amit Shah thanks PM Modi & FM for economic package; exudes confidence in economic revival

READ | Govt changes Definition of MSMEs, revises investment limit; here's what is different

Prime Minister Narendra Modi had on Tuesday announced a Rs 20 lakh crore special economic package for the country to become "self-reliant" and deal with the slowdown in the economy due to the COVID-19 crisis. He had also announced that the fourth phase of lockdown will be completely redesigned with new rules and will commence from May 18.

READ | FM Nirmala unveils India's Rs 20 lakh crore package: FULL list of first 15 measures here

READ | PM Modi issues first statement on FM's 15 announcements; cites benefit to entrepreneurs

(With agency inputs)

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