Finance Minister Nirmala Sitharaman’s big-bang measures announced for MSMEs right down to their redefinition, is welcomed by and large by all newspapers.
The Indian Express notes the Indian Army’s new proposal for internships in a bid to boost patriotism in the country.
Financial papers pick apart the new economic package and anticipate the next few announcements.
On the coronavirus front, there doesn’t seem to be any signs of a let up in cases: In ‘Count tops 75k; 2nd highest rise in cases, deaths’, TOI reports that “India is now the 12th country to cross 75,000 Covid-19 cases, on a day when the country logged the second highest single day rise in new cases and deaths, even as Maharashtra’s case load zoomed past the 25,000 mark.”
But there is some relief for those trying to go home: ‘Rlys planning more spl trains…’ says the paper. “Limited waitlisted tickets will be issued from 15 May 15… even as the government is working on plans to run more trains in the near future…”
Note today’s cartoon by EP Unny that offers another take at the new MSME definition, referring to the whole move as “tedium”.
Away from the coronavirus comes news of a bid to revive nationalism and patriotism by the Indian Army — ‘Army proposes voluntary 3 year ‘tour of duty…’’’ has proposed a “three year internship for youths, both as officers and soldiers”. The tour would be voluntary for youths that want to experience the “thrill and adventure of military professionalism”.
On the health front, WHO has a warning and it’s not pretty: “Coronavirus may never go away, like HIV, WHO warns”. WHO’s emergencies director Michael Ryan said “This virus may become just another endemic virus in our communities and never go away.”
Back home in the capital, ‘Court seeks govt response on plea to start transport’ as “Delhi high court Wednesday sought the responses of the central and Delhi governments on a plea seeking resumption of public transport services in the Capital, which has remained suspended since the lockdown began on March 25.”
And here we are following the PM’s call to be vocal about local: ‘CAPF canteens to go ‘Indian’ from June’. HT reports, “Canteens of the Central Armed Police Forces (CAPF) will sell only indigenous products beginning June 1, Union home minister Amit Shah announced Wednesday.”
On Page 1, the lead, ‘Major stimulus package…’ looks specifically at the stimulus for MSMEs and reports, “Union Finance Minister Nirmala Sitharaman Wednesday announced a ₹3 lakh crore collateral-free loan scheme for businesses, especially micro, small and medium enterprises (MSMEs)…’’
In some bad news, ‘$3.6 mn in U.S. funding to Indian labs may be delayed’. Hindu reports, “A decision by the U.S. Centers for Disease Control and Prevention (CDC) to donate $3.6 million to Indian laboratories and research agencies to assist in countering the COVID-19 pandemic could run into delays, given that the agency has been placed on a ‘watch list’ since December 2019, officials said here.”
In alarming news for Punjab, ‘1,225 of 4,216 Nanded returnees positive, bump up Punjab numbers’. Hindu writes, “The pilgrims had travelled to Nanded to pay obeisance at Gurdwara Hazur Sahib… the announcement of the lockdown on March 24 at four hours’ notice forced them to stay back at the shrine complex.”
In this frame of mind, it’s no wonder the newspaper calls ‘Atmanirbharta’ the “dirtiest word” in its second lead. After outlining the measures announced by Sitharaman Telegraph quotes Anil Bhardwaj, secretary general of the Federation of Indian Micro and Small and Medium Enterprises (FISME), who said, “We are clearly disappointed. At the end, we are seeing that it is only a loan without a government guarantee. The rest is frivolous. In this kind of crisis with mounting losses and no business, we were expecting the government would provide direct support.”
It also mentions that Minister of State Anurag Thakur played translator having “paraphrased Sitharaman’s remarks in Hindi”.
In some other congratulatory news, PM-CARES Fund Trust has allocated Rs 1,000 crore for the care of migrant labourers. This comes “amid clamour about the efficacy of the fund”, notes the daily.
After a staggered reopening of one factory, India’s largest car-maker is starting to turn its wheels. ‘Maruti Suzuki sticks with ₹2,700 cr capex..’ notes that the automobile giant “will retain its Rs. 2,700 crore capital expenditure plan for this financial year” and seeks to reopen its second factory in Gurugram. The company is “undeterred by the turmoil caused by the coronavirus outbreak”, it adds.
Anticipating more announcements from the Finance Minister, the second lead (“Poor, farm sector likely to be FM’s next focus”) predicts the rural and urban poor and the agricultural sector is next after MSMEs along with some “tax relief for aimed at the middle class”.