Jumla for India, jobs for China: Rahul targets govt on 'Make in India'

 He alleged that the imports from China are at an all-time high under the Modi government as it has “destroyed” the medium and small industries and unorganised sector that creates jobs

Congress leader Rahul Gandhi on Friday targeted the Modi government over the issue of jobs, charging that ‘Make in India’ is turning into ‘Buy from China’. He alleged that the imports from China are at an all-time high under the Modi government as it has “destroyed” the medium and small industries and unorganised sector that creates jobs. “JUMLA for India, JOBS for China! Modi Government has destroyed the Unorganised Sector and MSMEs that create the most jobs. Result: ‘Make In India’ is now ‘Buy from China’,” he said on Twitter.

The former Congress chief also shared a 1.30 minute video where it is alleged that the Modi government promised ‘Make in India’, yet it only “buys from China” and there has been a record 46 percent increase in imports from China in 2021, which is the highest ever. In the short video, he also shared excerpts of his speech in Parliament on the issue, where he attacked the government on China. Gandhi and his Congress party have been critical of the government’s response and handling of the border dispute with China and have been demanding strong action on the matter.

Loan ‘melas’ are back: PSBs to hold credit meets in 400 districts, says FM

Stressed MSME assets will not be labelled NPAs till March 31, 2020

Public-sector banks (PSBs) will hold public meetings with borrowers for distributing loans in 400 districts of the country to boost demand ahead of the festive season, Union Finance Minister Nirmala Sitharaman announced on Thursday.

In this, the banks will take help from non-banking financial companies (NBFCs). The National Democratic Alliance (NDA) government will be following the footsteps of its predecessor, the United Progressive Alliance (UPA) government, which had introduced the concept of “loan mela” to boost credit by directing banks to lend to people through public meetings.

Further, the government has told PSBs not to declare stressed assets of micro, small and medium enterprises (MSMEs) non-performing assets (NPAs) till March 31 next year. This will come as a major boost to the sector with its 65 million firms employing around 120 million workers — the biggest job creation after the agriculture sector. The government is also considering a special dispensation for the farm and MSME sectors