CM welcomes centre’s mega economic package

IMPHAL, 13th May: Chief minister N Biren Singh welcomed the Rs 20 lakh crore mega economic stimulus package announced by the Prime Minister Narendra Modi aimed at uplifting the economy battered by the nation-wide lockdown and Covid-19 pandemic.
In a video message, the chief minister stated that it was a bold step taken by the Central government as the package is equivalent to 10 per cent of India’s GDP. Elaborating the key points announced by the Union finance minister Niramala Sitharaman in this regard under Atma Nirbhar Bharat Abhiyan (Self Reliant India Movement), the chief minister expressed hope that the state would also benefit in multiple sectors.
Informing that the Union government has announced to provide Rs 3 lakh crore collateral-free automatic loans for MSMEs, having a four-year tenure and moratorium of 12 months, Biren said that Manipur being a state having highest number of MSMEs in the North East region will benefit largely. Redefining the MSME sector will also create huge opportunities for the people of the state as the investment limit has been revised upwards to Rs 1 crore as compared to Rs 25 lakh earlier.
As the Centre has decided one-time liquidity infusion of Rs 90 crore for all power distribution companies (Discoms), MSPDCL is likely to get a huge relief in repaying dues, the CM said. He further added that as Fisheries Department is being upgraded to a major department as per the announcement, Manipur can reap benefits from this decision as Manipur is suited to fisheries sector.


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