Every country has suffered a financial shock due to corona and lockdown. In India, millions of people have been affected due to this. To bring it back on track, and the economic package has been announced by the government, which has been welcomed by all the people associated with the industry.
Ramchand Chaudhary, the founder of Sun Resolution Professional Privat Limited, considers the package given by the government as a reform package. This initiative will help fulfil the dream of making India self-reliant. If we talk about direct benefits, then it is quite less in proportion to the package. But the commendable thing is that all the areas have been included in the package. Only after the distribution system is smooth, the benefit of this package will reach the person standing in the last row. The most impact of Coronavirus has taken place in urban areas, the government increased the allocation in MNREGA so that the workers migrating from the city can get employment easily.
He believes that the collateral-free loan scheme to MSME is a commendable step. Startups and other units will benefit the most from this. Apart from this, improvement in APMC Act is also a very bold step. The agriculture sector will benefit greatly from this. Improvements in the Companies Act, reforms in the coal sector, indigenous priority in tenders, payment arrangements to the power company, e-marketing arrangements for MSMEs, all the classes will benefit from the one country one ration card scheme for the transferred labourers. However, Chaudhary does not agree to repeal the insolvency system law for a year.
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