Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman

Maharashtra government and industry players have hailed the finance minister’s Rs 1.70 lakh crore economic stimulus package for poor to tide over the coronavirus crisis.

Chief Minister Uddhav Thackeray said the state government will make all efforts to effectively implement the centre’s package to cover the targeted beneficiaries across Maharashtra. On his part, Deputy Chief Minister Ajit Pawar welcomed the stimulus package, as it has been released after considering that the crisis could continue for three months. He argued that a new package should be announced after a periodic review.

CII director general Chandrajit Banerjee hoped that the entire package alleviates the difficulties currently being faced by the poor and the distressed. "However, the government could be more aggressive in its spending with an overall fiscal stimulus at 2.5-3 per cent of the GDP if the disruptions continue for the next three months,’’ he noted.

IMC Chamber of Commerce and Industry president Ashish Vaid said the FM’s announcement will help in streamlining compliances and provide relief to daily wage earners and to the lower sections of the society, who have been badly affected due to this disruption. However, he added that the businesses are eagerly awaiting the fiscal stimulus needed to overcome these difficult times.

ASSOCHAM president Niranjan Hiranandani said that other segments of society are also looking forward to measures such as EMI waivers and also extension of loan scheme tenures, among others, and will be on wait and watch mode.

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