Guru Swarup Srivastava Urges the Government and Banks to Come Forward to Revive the National Economy

1. Guru Swarup Srivastava Urges the Government and Banks to Come Forward to Revive the National Economy So far, the year 2020 has come out as one of the darkest years of modern human civilization. The global pandemic of Covid-19 has crippled the world economy. India is one of the countries experiencing a mammoth rage of the virus. The unprecedented growth of the Indian economy suddenly stopped as the country went to complete lockdown for three months at a stretch. Market experts and industrialists like Guru Swarup Srivastava, Kishore Khanna, Manish Agarwal have been right in pointing out that in this entire economic fiasco it is the Indian MSMEs that has been hit worse.

2. The MSMEs are the backbone of the Indian economy In the webinar arranged by the esteemed corporate Council of Leadership and awareness Guru Swarup Srivastava has been rather prudent in his conclusion that it is the MSMEs that effectively keep the wheels of the Indian economy rolling. They are the invisible partners who support the business operations of bigger brands from different industries. The continuous lockdown has affected these business entities severely crippling the national economy as a whole. The central and the state governments need to step up for help The stalwarts of the Indian economy like Guru Swarup Srivastavahave pointed out thatthis is the time when the Indian Central and the State government must fix strategies and arrange financial packages to assist the MSMEs through different measures. This is the time when the national government must relax the interest on loans and relax the taxes that MSMEs need to pay every year. With the right financial assistance, Governments can boost the morale of small business owners who are otherwise hopeless right now. Such remedial measures will help the MSMEs to retain their manpower and assist to control the soaring unemployment of the nation. The banks to play a significant role Mr. Srivastava has further opined that the Indian banks can play a vital role in the upliftment of these MSMEs. The banks must work on their loan interests and workout their EMI patterns. In the current times, it can be a huge benefit for the MSMEs who are struggling to maintain their existence in the face of the fragile financial condition of the nation. According to this well-regarded industrialist, in the past, banks had helped small and medium enterprises in many ways. They need to come

3. up with some good plans and programs once again to help the stumbling economy of the country.