According to Union Minister Nitin Gadkari, India needs foreign direct investment worth 50-60 lakhs crore to support Coronavirus hit economy. The money can be either through infrastructure projects and the MSME sector.
The road transport, highways senior minister said “Country at this juncture needs liquidity “.Foreign direct investment will benefit the country in the present situation to boost up the economy.
In order to curb the spread of Coronavirus, the government had imposed a nationwide lockdown as a result the economic activities have been disrupted. In order to attract foreign investment the country needs airports, railways, inland waterways, micro, small and medium enterprises which portray the development of the country.
The minister further added that he had communicated with investors from Dubai and the US to invest in various sectors in such MSME based on the ratings. Some of the MSME have already listed to BSE. Taking an example of Delhi- Mumbai expressway he asked Maharashtra government to shift leather workers to Thane which has modern facilities including hospitals, schools. The development of the backward areas will eradicate poverty which in turn leads to a country’s development. The prime minister Narendra Modi has been repeatedly asking the manufacturing industry to reduce the imports. In order to increase the productivity in our country, the Prime minister had announced: “ Pradhan Mantri Garib Kalyan Ann Yojana “(PMGKAY), a free ration scheme for 80 crore people till November.