FTCCI welcomes Centre s Rs 3.16 lakh crore package

The Federation of Telangana Chambers of Commerce and Industry (FTCCI) on Thursday welcomed the Rs 3.16 lakh crore package announced by the Centre, saying it would help the migrants and lead to generation of demand for products and service from farmers and others.

"TheOne Nation, One Ration Card, free rations of Rs 3,500 crore,Kisan creditcard initiative, affordable rental accommodation scheme for migrant workers and the urban poor under PM Awas Yojana andincentivising manufacturing and industries to build affordable housing units...Is a welcome reassuring step for the marginal class andwillbenefit the migrants, senior vice-president of FTCCI Ramakanth Inani said in a statement.

He expressed confidence that demand for products and services would be generated from farmers and marginalised sections who would benefitunder the Kisan Credit Card initiative in which Rs two lakh crore would benefit as many as 2.5 crore farmers.

He hoped that the migrant workers would return to their respective regions for work, with housing, credit facility, foodand jobs having been taken care of.

That would be beneficial to the industries which employ them, Inani added.

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The government on Thursday announced a Rs 3.16 lakh crore package of free foodgrains for migrant workers, concessional credit to farmers and working capital loan for street vendors as part of the second tranche of fiscal stimulus to heal an economy hit hard by coronavirus lockdown.