Stimulus package to ease pain of MSMEs

Source: First Post

The government’s announcements are significant steps in easing the economic pain of MSMEs, said Ram Iyer, founder and CEO, Vayana Network.

As the economy comes back to life over coming weeks, arranging liquidity and meeting expenses will be key challenges for every MSME. The package announced on Wednesday is unprecedented in both magnitude and the mechanism, he said.

“The Rs 3 lakh crore package will enable immediate access to additional lines from banks to MSMEs. The 1-year moratorium will ensure that SMEs can focus on immediate exigencies and bring their business back to life and not worry about interest and repayments,” Iyer said