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Narendra Modi

Narendra Damodardas Modi (born 17 September 1950) is an Indian politician serving as the 14th and current Prime Minister of India since 2014. He was the Chief Minister of Gujarat from 2001 to 2014 and is the Member of Parliament for Varanasi. Modi is a member of the Bharatiya Janata Party (BJP) and of the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist volunteer organisation. He is the first prime minister outside of the Indian National Congress to win two consecutive terms with a full majority and the second to complete five years in office after Atal Bihari Vajpayee.

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Narendra Modi Nirmala Sitharaman India 2020 pandemic economy Government Narendra Modi Nirmala Sitharaman India

₹3 lakh cr for MSMEs

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Finance Minister Nirmala Sitharaman on Wednesday laid out the contours of the ₹20-trillion mega economic relief package announced by Prime Minister Narendra Modi on Tuesday.

She said Modi's "comprehensive vision" for the economy will spur the Indian economy. "PM laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society," she said.

Sitharaman announced collateral-free loans worth ₹3 lakh crore for Micro, Small and Medium Enterprises. MSME units with ₹100 crore turnover or with an outstanding loan of ₹25 crore will stand to benefit.

Tenor of these loans will be four years, valid upto 31 October, 2020 and moratorium of 12 months has been given. The government will provide 100%

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