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“Minister vs Minister” In P Chidambaram’s Swipe At Centre Over MSMEs

Congress chief and previous Finance Minister P Chidambaram tweeted on situation of MSMEs (Report)

New Delhi:

Congress chief P Chidambaram took a swipe on the executive as of late, highlighting it seems that contradictory statements by way of two Union Ministers on situation of MSMEs (micro, small and medium enterprises) which were adversely suffering from the nationwide lockdown over the COVID-19 virus.

Within the first of 2 tweets posted at round 10 am, Mr Chidambaram referred to a remark by way of MSME Minister Nitin Gadkari, who instructed information channel CNBC-TV18 that executive businesses owed MSMEs Rs five lakh crore in unpaid dues.

Mr Chidambaram then pointed to a remark by way of Finance Minister Nirmala Sitharaman on Wednesday, during which she introduced Rs 3 lakh crores in collateral-free loans for 45 lakh MSMEs.

“Minister Gadkari says that governments and PSUs owe Rs five lakh crore as unpaid dues to MSMEs. Minister Sitharaman says she is going to be offering collateral unfastened mortgage of Rs three lakh crore to MSMEs (numbering 45 lakhs). So, who’s the lender and who’s the borrower?!” Mr Chidambaram tweeted.

“Will the 2 ministers ‘settle their accounts’ first and let MSMEs save themselves with out executive’s ‘assist’?” the previous Finance Minister stated paradoxically.

Previous this week, Ms Sitharaman, detailing the federal government’s Rs 20 lakh crore COVID-19 financial aid plan, stated loans to MSMEs can be credit-free and include a 12-month moratorium.

The loans come as lakhs of small companies around the nation teeter at the fringe of chapter because of the coronavirus lockdown.

Ultimate week Mr Gadkari stated dues owed to MSMEs by way of central and state governments, in addition to PSUs (public sector devices) and different industries was once “very prime” and MSMEs, on account of such remarkable dues, have been engaged in a “battle for survival“.

Mr Chidambaram’s tweets as of late seem to signify the contradiction within the two minister’s statements, wondering the plain non-payment of dues to MSMEs whilst including to their loans remarkable.

The Congress chief had previous expressed wary approval of the federal government’s aid plan for MSMEs, calling it “modest”. He additionally expressed disapproval over different measures introduced, describing the federal government as a “prisoner of its own ignorance“.

During the last two days Nirmala Sitharaman has made a number of bulletins detailing disbursements from the Rs 20 lakh crore aid bundle introduced by way of Top Minister Narendra Modi.