CII Statement on Prime Minister address to nation

CII released
it’s statement after the Prime Minister Narendra Modi address to nation before
the 4th lockdown. Declaration of 20 Lakh Crore package brought much relief to
everyone as it gives them the strength to fight this difficult time.

Chandrajit
Banerjee, DG CII, said, “The Prime Minister has delivered a visionary
statement that truly captures the needs of the nation at this critical hour
during the Coronavirus pandemic. He has promised a package of Rs 20 lakh crores
which would be delivered to stressed sections of society, farmers, workers, and
MSME. We truly appreciate his emphasis on strengthening MSME which support
millions of jobs as well as his emphasis on competitiveness of Indian
industry”.

Global
supply chains, agriculture and agri supply chains, and local supply chains all
found mention in this very important statement from the Prime Minister. Workers
in organised and unorganised sectors can both be expected to receive benefits
in the coming days.

He further
added, We appreciate that the Prime Minister spoke about the areas of land,
labour, liquidity and simplification of laws which are the key challenges of
the economy. Reforms in these four areas will truly unleash the next wave of
economic growth within this crisis situation. The Prime Minister’s high
emphasis on self-reliance and strengthening India’s domestic manufacturing is
indeed welcome. He has rightly identified the five pillars of the economy as
quantum jump of the economy, world-class infrastructure, technology processes,
demography and strong domestic demand.

CII welcomes
the statement and looks forward to the policy announcements to be made over the
next few days by the Finance Minister.