SME Times News Bureau | 23 Aug, 2019
Exporters association Federation of India Export Organisations (FIEO) on
Friday welcomed the slew of measures announced by Finance Minister
President Sharad Kumar Saraf said that announcements made by the government is
aimed at investment stimulus, demand stimulus, ease of doing business and
recognition to wealth creators.
roll back of the higher tax on foreign investors and the release of funds to
recapitalise public sector banks will go a long-way in easing liquidity and
further giving a much needed boost to the economy in such challenging
times, added Saraf.
simplifying the GST system, the government announced that all pending GST
returns for MSME till now will be sorted out in 30 days with future refunds in
initiative of the government will further help the trade and industry to
overcome their problem of liquidity and capital requirements, said Saraf.
President added that recapitalising of banks by Rs 70,000 crore
upfront as additional lending and liquidity along with banks being asked to
pass on rate cuts through MCLR reduction to further make Rs 5 lakh
crore available for credit expansion will further help in creation of liquidity
into the system.
The reforms and measures to
revive economic growth in such challenging times shows the commitment of the
government under the dynamic leadership of the Prime Minister on a road
map for New India based on inclusive growth.