Economy

PM sees green shoots in the economy

Our Bureau New Delhi | Updated on June 16, 2020 Published on June 16, 2020

Prime Minister Narendra Modi

Called for Specific Economic Activity Points in the States to work round the clock

Setting a positive tone, Prime Minister Narendra Modi in his interaction with the first set of Chief Ministers said that green shoots in the economy are now visible.

He urged he leaders to continuously keep driving in the fact that danger of the virus is not over yet, and the need to remain vigilant while opening up the economy.

As Unlock 1.0 is now entering into its second fortnight, the Prime Minister on Tuesday had a virtual meeting with 21 States and Union Territories, which have low Covid case load. On Wednesday, he will interact with 15 States and Union Territories which have high case load such as like Maharashtra, Gujarat, Delhi, Tamil Nadu.

The purpose of these two meetings is to formalise a strategy to fight the pandemic and further unlocking. During the interaction, Modi said that with the efforts of the past few weeks, green shoots in the economy are visible, including a rise in power consumption, higher fertiliser sales, increase in production of two wheelers, digital payment in retail reaching pre-lockdown levels, increase in toll collection in May and bouncing back of exports. These signals are encouraging us to forge ahead, an official statement said.

Modi said the Atmanirbhar Bharat Abhiyan had given significant importance to agriculture, horticulture, fisheries and MSMEs and was benefitting the participating States.

“If quick disbursal of credit to industries is ensured through Bankers Committees, these industries will be able to start working quickly while also ensuring provision of employment opportunities,” he said adding the importance of working together on value chains to give fillip to trade and industry. He called for Specific Economic Activity Points in the States to work 24 hours a day.

Prime Minister said that farmers are going to benefit through reforms in the agriculture sector, including new avenues to sell produce, increase in income which in turn would increase demand in the economy.

New opportunities for North-East and tribal regions in the areas of farming and horticulture are set to be created, with opening up of new markets for organic products, bamboo products and other tribal produce.

The States will also benefit from a cluster-based approach for local products, he said, adding that such products should be identified at each block and district level for better processing and more effective marketing.

He emphasised on the need of working together to ensure that the announcements made under Atmanirbhar Bharat Abhiyaan fructify at the earliest.

Participating in the discussion, the Chief Ministers gave feedback on the existing health infrastructure in their States and efforts for augmentation to tackle the impact of the virus. They spoke about the awareness campaigns being run by them, help being provided to workers who have returned home, usage of Aarogya Setu app, and kickstarting of economic activities in the States.

In his concluding remarks, Modi said that on the one hand, health infrastructure will need to be boosted with emphasis on testing and tracing, and on the other economic activity will also need to be increased. The decisions need to be taken keeping in view both current needs and future requirements.

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Published on June 16, 2020
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