The government also needs to plan for more support for the migrant workers – FICCI

Mr Deepak Mehta, Chairman FICCI Gujarat State Council said, FICCI is hopeful that more such measures will be announced by the government in the coming days and we will see greater thrust being laid on some of the most battered segments of industry including tourism, hospitality, aviation and healthcare. FICCI has requested that a minimum amount of Rs 20,000 crore be allotted for these sectors as they have seen maximum dip in demand and will also take much longer to recover from the set-back seen.

Healthcare sector also needs huge impetus in order to build capacity to fight the covid-19 menace effectively. The sector is trying to make its contribution but needs support to sustain its efforts.

The government also needs to plan for more support for the migrant workers and the more vulnerable sections of society.

Finally, large corporates have also been significantly affected. FICCI has recommended a need for COVID liquidity bridge for providing guarantee to banks to give them comfort to restructure/ extend loans to companies whose balance sheets have been impaired due to covid-19. Government needs to provide an amount of Rs 10,000 crore in first year towards this, which is a small amount of support needed but can have significant impact on companies and economy.