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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