Moksh Popli says that the most damaging part of this lockdown was the loss of jobs. At present, India has a labor force of about 495 million. And unhappily, we are in the never-before-seen emergency. Taking lessons from the lockdown 1, 2 and 3, the Indian government came up with better plans. They understood that simply following other countries and modeling lockdown was an indefinite decision.
In lockdown 4.0, the government came up to support various industries, sectors, and businesses progressively. The fact cannot be denied that India observed the ‘most severe’ lockdowns in the world. Experts say, it happened due to lack of original thinking, huge masses suffered and still undergoing immense losses.
On 13th May, PM Modi urged the people of India to become AATMANIRBHAR and go vocal for local, which means supporting Make in India and regional products. He said that during this lockdown phase we all survived with limited and local resources. So they should be supported on a big scale.
Moksh Popli says that the stance of announcements rekindled trust in the common man to handle the economy crisis post-Coronavirus outbreak. Here are some major points mentioned by Finance Minister, Nirmala Sitharaman under the relief package addressed to the nation:
- 3 Lakh Crore collateral-free automatic loans will be disbursed for businesses; especially for the MSMEs. It will benefit 45 Lakh units and help them in securing their workers.
- The government will support MSMEs by aiding the prerequisite of Rs 20,000 Crores as subordinate debt. MSME is the backbone of the Indian economic structure.
- The registrations and completion dates of all registered projects under RERA that will expire on or after 25 March 2020 will be extended fr six months.
- The government will support EPF for businesses and workers for three more months with 2,500 Crores.
- A sum of Rs 30,000 Crore is given for the non-banking financial companies, micro-finance, and housing finance agencies.
- TDS and TCS rates are reduced by 25% until March 2021.
- ‘One nation, one ration card’ is allowed for the migrant workers. They can use the cards in any state across India.
- The government will support nearly 50 Lakh street vendors with 5, 000 Crore special credit facility.
It is believed that the Indian economy could pick-up as industries will soon restart their operations. The supportive measures for MSMEs is a great initiative. Roughly, 97 percent of the companies and industries fall under this category. It is known as the strongest driver of economic expansion, employment, and unquestionably, the biggest contributor in India’s GDP.
Moksh Popli says now the things are handled competently, and soon the economic depression will pass by and the Indian economy will revive. He wants everyone to be affirmative, as he adheres to the artifices driven by the PM in dealing with COVID-19. He further says, the pandemic has devastated the economies across the globe, but we have acquired the skills to combat the trauma as the future appears bright again. The young entrepreneur believes that there is a hope of revival.
He is managing his responsibilities from home, staying involved in helping the poor with medical aids, food grains, and other essentials. Holding the vision of AATMANIRBHAR Bharat Abhiyan, he says the Indian economy will come back to life with a boom.