Economic package measures 'deeply disappointing', says Kerala FM Thomas Isaac

During an elaborate press conference today, FM Sitharaman announced six postulates to infuse liquidity into the MSME sector.

Moneycontrol News

May 13, 2020 / 20:54 IST

Taking potshots at the blueprint of the Rs 20 lakh crore economic stimulus laid out on May 13 by Nirmala Sitharaman, Kerala Finance Minister Thomas Isaac dubbed it as "deeply disappointing".

In a sharply-worded tweet, Isaac said, "If the first day's package of Union FM is a fair sample, the Rs 20 lakh stimulus is going to be deeply disappointing."

"The actual outflow resources directly from the budget is only around ₹30,000 crore. At least the interest payment of MSME sector during the moratorium could have been waved," he added.

During an elaborate press conference today, FM Sitharaman announced six postulates to infuse liquidity into the MSME sector.

These included collateral-free automatic loans worth Rs 3 lakh crore for standard MSMEs, and creating a fund of funds for infusing about Rs 50,000 crore as equity into MSMEs.

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