Will PM Modi's address give industry confidence?

May 31 2020 09:40 PM
Will PM Modi's address give industry confidence?

PM Narendra Modi will address the annual session of Udyog Mandal CII on Tuesday. According to sources, during his address, the Prime Minister will give his views to the country's business to regain the growth rate. He is going to address the industry at a time when companies are resuming their operations after getting the exemption in lockdown. A source associated with the Board of Industries informed PTI that the Prime Minister will deliver the inaugural address in the annual session organized on the 125th Foundation Day of the Confederation of Indian Industry (CII). CII was established in 1895.

For your information, let us tell you that the theme of this virtual annual session is 'regain growth'. The event will be attended by Piramal Group Chairman Ajay Piramal, ITC CMD Sanjeev Puri, Biocon CMD Kiran Mazumdar Shaw, SBI Chairman Rajneesh Kumar, Kotak Mahindra Bank CEO Uday Kotak and CII President Vikram Kirloskar. The same, it is noteworthy that the Ministry of Home Affairs announced 'Unlock-1' on Saturday. Under this, exemption has been given for various activities in the country from June 8. Shopping malls, restaurants and religious places will open in other parts of the container zone from June 8.

Apart from this, various rating agencies and economists have projected a huge reduction in the country's GDP growth rate in the current financial year due to covid-19 and the consequent lockdown. The government has announced a relief package of Rs 20 lakh crore for the economy affected by the lockdown. In this relief package, many types of relief have been given to small traders as well as domestic manufacturers and other sections.

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