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Package for SMEs, others on cards, indicate Sitharaman
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SME Times News Bureau | 26 Mar, 2020
The Rs 1,70,000 crore package, aimed at providing food security to the
poor and money in their hands to fight the Covid-19 pandemic issues, may
not be the last set of economic relief from the government.
Finance
Minister Nirmala Sitharaman, here on Thursday, indicated that concerns
of India Inc, small-to-medium enterprises (SMEs) segments and other
segments hit by the lockdown might be looked at and the government could
announce a plan later.
"Our first priority is to provide food to
the poor and money in their hands. We will think about other things
later," Sitharaman said.
On relief to the travel and aviation
sectors that are bearing the brunt of the lockdown, the Finance Minister
said, "We will come back when something is ready."
Today's
package follows announcements by the Finance Minister on Tuesday where
she dealt with several compliance-related issues during the lockdown.
India
Inc has been waiting for a package to resolve immediate problems and
provide relief to lockdown-hit sectors. The India Inc's suggestions
include withdrawal of LTCG temporarily, removal of buyback tax and
deferment of payment of corporate tax.
The industry has also suggested that time-lines for qualifying delays in loan repayment as NPAs should be extended.
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