Union Minister Ashwini Vaishnaw Ashwini Vaishnaw
says :
"Two major decisions were taken. The first is about how a country should plan integrated transport and logistics. This is already being done in several countries around the world.
For this purpose, an institution will be established—a new organization that will carry out this work in a systematic and scientific manner. The second decision concerns our MSME firms. To provide them with the growth capital they need, a fund of ₹10,000 crore will be created."
"Cabinet nods proposal to set up Integrated Transport and Logistics Authority"
Cabinet complimented PM Narendra Modi for taking firm and determined decisions and framing "decisive policies" during challenging times facing the country, the Minister said.
"PM Modi has set a new example on how to unite 140 crore people during crises," he said.
Ashwini Vaishnaw also said:
"MSMEs are very important for employment generation, exports, and manufacturing. For this reason, the Prime Minister has introduced several reforms, one after another, over the past 12 years.
Among the biggest reforms have been aimed at improving the cash flow of MSMEs, particularly by ensuring that payments due to them, which were often delayed, are received on time.
"The definition of MSMEs has also been changed, and steps have been taken to ensure that MSMEs can access loans more easily. The decision taken today is related to the challenges faced by MSMEs in their growth...
"For this purpose, a Rs 10,000 crore MSME Growth Fund will be created. This Growth Fund will be operated in collaboration with the MSME Ministry and the Finance Ministry...".
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