I have requested the Union Government to offer moratorium to MSMEs and small borrowers who are facing a crisis due to #COVID19's second-wave. I...

Taking decisive proactive measures to protect the backbone of the regional and national economy, Chief Minister M.K. Stalin formally petitioned the Union Government to announce an immediate moratorium on debt servicing for micro, small, and medium enterprises and individual small borrowers. Highlighting the acute financial paralysis inflicted by the severe second wave of the pandemic, Stalin pointed out that small manufacturers and self-employed entrepreneurs faced catastrophic insolvency without urgent liquidity shielding.

Amplifying this vital demand onto the national stage, Stalin addressed written appeals to the Chief Ministers of twelve non-BJP ruled states, urging them to unite and jointly press the demand before Union Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta Das. Stalin proposed deferring loan principal and interest repayments, restructuring working capital credit facilities, and prohibiting punitive asset classifications during the crisis. He stressed that preserving small business solvency is essential to preventing mass unemployment, maintaining supply chains, and fueling eventual post-lockdown economic recovery.

Stalin visionary economic intervention positioned Tamil Nadu as a vigorous champion of industrial resilience. By uniting state leaderships behind industrial survival, his administration defended millions of livelihoods dependent on micro and small enterprises.