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India Inc relieved by RBI's move to infuse liquidity, revive small businesses

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MUMBAI: Leaders of India Inc on Friday said the Reserve Bank of India’s (RBI) measures will pump in liquidity, ease financial stress in the system and help reviving the micro, small and medium enterprises (MSME) and real estate sectors that employ a significant number of people and are integral to supply chains. “It would be crucial to kick-start economic activity after this period of disruption.

MSME’s are the backbone of Indian industry and form the key element of product supply chain - be it agri-processing, textiles, or auto-ancillaries," said Vipin Sondhi, managing director and CEO of Ashok Leyland.

At present, there are 63 million MSMEs which employ at least 124 million people. MSMEs contribute to 6.11% of the manufacturing GDP,

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Gotabaya Rajapaksa - The economy is recovering, says President during meeting with professionals - newsfirst.lk
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The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
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