Hyderabad, Jun 18 (KNN) Telangana’s IT and industries minister KT Rama Rao has written to Union Finance Minister Nirmala Sitharaman urging her to redefine 'Atmanirbhar Bharat' package to help MSMEs.

In the letter, Rao pointed out that there were many limitations and problems in implementing the Atmanirbhar package.

"It has been more than a year since Prime Minister Narendra Modi announced the Atmanirbhar Bharat Rs 20 lakh crore aid package to help various sectors affected by Covid-19 crisis," he stated.

"As the minister for industries in Telangana, I have focused hard on ensuring that MSMEs benefit from the package. However, one year down the line, I regret to mention that the impact of the package has been minimal for this sector that has really faced the brunt of the pandemic,” the letter read.

He further added that more than 80 per cent of MSMEs in the state have been facing difficulties in the wake of the lockdown with more than 25 per cent of them losing their revenues altogether.

He said that the Rs 3 lakh crore from the package was earmarked for the Guaranteed Emergency Credit Line Scheme, mainly for MSMEs.

"However, after the release of the scheme guidelines, MSMEs in Telangana state feel that there is nothing special about it," he added.

The minister also stated that the Atmanirbhar Bharat Assistance Package announced two more schemes for debt-ridden MSME units and innovative MSMEs.