Sajjan Jindal lauds Rs 20 lakh crore-economic package announced by PM Modi

Kolkata: The Rs 20 lakh crore economic package unveiled by Prime Minister Narendra Modi is predicated to make the Indian economy self-reliant by leveraging our inherent strengths of demographics, technological skills & domestic demand, Sajjan Jindal, Chairman, JSW Gorup has said.

"The USD 260 billion package, equivalent to 10% of GDP, will blend most anticipated reforms in factors of production viz Land, Labour, Liquidity (Capital) and Laws by building infrastructure and robust supply chains that would give a boost the Make in India programme," he added, while commenting on PM Modi’s Aatmanirbhar Bharat Abhiyan.


The PM's emphasis on being 'Vocal about Local' and to 'buy local' is a message to rekindle our sagging manufacturing sector, Jindal said adding it is noteworthy in his emphasis that 'self-reliant does not mean self-centered.'

The package is timely in supporting the most needy segments of the economy-MSME, farmers, honest tax payers and the middle class.

The action to achieve two important outcomes for rebooting the economy, namely, demand revival and liquidity turning into credit flow to the industry are expected to be outlined hopefully in the details to be shared by the Finance Minister.

"The principal differentiator in the announced package relative to that of other countries is blending the likely game changing reforms in the Land, Labour, Laws and Liquidity,"Jindal said.

"This announcement is a bold move by the government, no doubt, but we will have to read the fine print through subsequent announcements by the FM to see how this would be implemented and what specific benefits the nation will derive from it," he added.