To achieve its targeted one-trillion dollar economy, Odisha should announce economic revival package benefits for the enterprises, which are navigating through a challenging scenario in view of the COVID-19 outbreak.
Confederation of Indian Industry (CII), Odisha State Chapter chairman Rajiv Kumar has presented a proposal to the State Government in this regard. It has suggested for a sustainable process for restarting activities post lockdown.
The State Government is needed to consider providing subsidies to Industries to boost production and interest subvention could on working capita loans availed from commercial banks.
Banks are needed to be asked for hiking credit imits for all regular banking accounts by 25 per cent across the board.
The CII has also advised for additional reconstruction term loans MSMEs through banks. Special financial support to the food processing industries is needed for procurement of products at a fair price.
The Mission Shakti is needed to place a zero cost revolving fund with each SHG to enable them to prepare UV treated and sterilised masks and face covers. The SHGs manufacturing other products should also be provided financial support.
It has suggested also suggested for seamless transportation of goods and material from other parts of the country to the State and vice versa. Special fnancial package should be considered for service dectors like hospitality industry, wholesalers and small retailers to overcome the crunch.
The State PSUs, departments should be advised for 40 per cent compulsory Procurement from startups registered under the START Odisha Scheme of the MSME Department.