Industrialist Sajjan Jindal on Wednesday welcomed the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi to revive the economy hit by COVID-19, saying it will give a boost to the ambitious Make in India programme.
The Prime Minister on Tuesday announced a massive new financial incentive on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.
He had said that the details of the economic package will be given by Finance Minister Nirmala Sitharaman.
The JSW Group Chairman said the package is timely in supporting the most needy segments of the economy -- MSMEs, farmers, tax payers and the middle class.
"The package is predicated to make the Indian economy self-reliant by leveraging our inherent strengths of demographics, technological skills and domestic demand by building infrastructure and robust supply chains that would give a boost the Make in India programme," Jindal said in a statement.
The Prime Minister's emphasis on being 'Vocal about Local' "and to buy local is a message to rekindle India's sagging manufacturing sector," he said.
"This announcement is a bold move by the government, no doubt, but we will have to read the fine print through subsequent announcements by the FM to see how this would be implemented and what specific benefits the nation will derive from it," Jindal said.
JSW Group has significant presence in steel, power, cement and infrastructure.
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