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Amid COVID-19 crisis AIMO seeks relief for MSMEs
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SME Times News Bureau | 26 Mar, 2020
The All India Manufacturers' Organisation (AIMO) on Wednesday urged the
government to support the MSME sector with incentives in view of the
ongoing nationwide lockdown.
In a statement, the trade body said:
"AIMO made a plea to the government that if the right support packages,
incentives and measures were not provided to the MSMEs the lockdown
could well turn into a 'ShutDown India'."
Shrikant Dalmia, AIMO's
Zonal Vice President, West said that the organisation acknowledges the
steps taking by Finance Minister Nirmala Sitharaman regarding the easing
of compliance norms, but noted that several sectors including
automobile, aviation, hospitality, apparel, consumer durables, tourism,
and construction are among the worst hit by the epidemic and all the
MSMEs are either directly or indirectly dependent on these sectors.
Sushil
Vyas, Secretary of the trade body, said that it has requested the
Finance Minister to waive bank interest for MSMEs and instruct banks not
to make entrepreneurs' NPAs for lack of interest payment till December
31, 2020.
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