KTR writes to union minister Nirmala Sitaraman over Atmanirbhar Bharat

Telangana Municipal and IT Minister KTR today wrote a letter to Union Finance Minister Nirmala Sitharaman. In his letter, KTR explained to Nirmala Sitharaman about the problems and outcomes of the 'Atmanirbhar Bharat' assistance package of the Central government. This package came into existence to strengthen the micro, small and medium enterprises in the country during the Corona crisis.

The letter stated that the Prime Minister launched 'Atmanirbhar Bharat' about consisting of amount Rs 20 lakh crore package to help different aspects hit by the pandemic more than a year ago.

As the Minister of Industries of the State of Telangana, he ensured that the micro and small businesses, which are the backbone of Telangana's manufacturing sector, benefited from the package. He mentioned about the elements included in the package which are very minimal for the small industries.

The letter further read, more than 80% of MSMEs in the state have experienced severe challenges as a result of the lockdown, with more than 25% of MSMEs losing all of their earnings.

He explained all the elements including Guaranteed Emergency Credit Line Scheme, mainly for MSMEs about Rs, 3 lakhs which mainly focus on MSMEs.

He urged that MSMEs be helped by providing a large financial assistance to compensate for the losses incurred as a result of the monetary crisis, as the industries are facing several different challenges, for instance, labour shortages.

HE also mentioned about the debt-ridden MSME units and Innovative MSMEs which has yet not started in any parts of the country. The PLI scheme announced for key sectors as part of the Atmanirbhar package was about to have a large positive impact on MSMEs in the country but somehow benefitted only large manufacturing companies.

At the end he urged the Central Government to take appropriate steps in right direction, as a result the State Government will accordingly with the efforts made by the Central government.