FKCCI welcomes Atmanirbhar 3.0 stimulus

Bengaluru: Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has welcomed Atmanirbhar Package 3.0 announced by Union Finance Minister Nirmala Sitharaman.

Perikal M Sundar, President, FKCCI said that it's a step towards enhancing ease of doing business.

"Atmanirbhar Package 3.0, announced by Niramala Sitharaman covers almost all the sectors needing the helping hand of the government, in this Covid-19 crisis and it is a driving force for the growth of the robust economy."

Sundar added that the upgraded version of Emergency Credit Guarantee Loan Scheme (ECGLS) is a boon to MSMEs, businesses & professionals, with a comfortable repayment period of five years.

"Atmanirbhar Bharat Rozgar Yojana is an attractive scheme (valid till 30/06/2021) wherein the establishments registered with EPF0, will get PF contribution, from Central government, for all new employees recruited, for two years. This scheme definitely would generate employment opportunities. The ceiling limit of employees is enhanced to 1000 from the existing 100, which encourages large enterprises to provide more employment opportunities," he explained.

"Rs 2 lakh crore production-linked incentive (PLI) package for 10 sectors indicates that the focus of the government is to give more support to boost the economy." Sundar added.

The sops announced for real estate sector, fertiliser subsidy, Garib Kalyan Yojana, exports, infrastructure development, Covid vaccine related R&D activities, ease of doing business (EODB) ete., will, according to the FKCCI, further boost manufacturing, generate employment, improve competitiveness and make India a preferred investment destination.

"The packages announced are the precise steps towards self-reliant India and will definitely take India forward on this path. Also the increased GST collections is a sure sign of economy returning to normalcy," he opined.