Industry Inc Lauds Finance Minister Relief Initiative & Seeks Help
Dr. Niranjan Hiranandani, President – Assocham & NAREDCO ecstatically welcomes the relief package announced by the Hon’ble FM. He said that “at the time when the nation is struck with natural disaster and grappling with Pandemic crisis, Govt of India announces Rs 1.7 lakh crore relief packages for the poor and marginalized segments of the society. These initiative aims to provide a buffer & facilitate the basic needs of economically weak people who have no other means of being shielded from the crisis. While welcoming these moves, one hopes that other segments of society, who are also looking forward to measures such as extension of loan scheme tenures, among others economic the package shall be on a wait and watch mode.” Jaxay Shah, Chairman, CREDAI National on Finance Minister’s announcement of the economic relief package stated, “The Garib Kalyan Scheme, announced by the Government today for providing the much-required relief to the economically weaker sections amidst these hard times, was the need of the hour. We thank the Government for taking cognizance of our recommendation and advising the states to use BOCW cess funds collected by the labour welfare boards in providing the immediate relief to the construction workers. Concurrently, the industry eagerly awaits the economic stimulus required for our revival. We stand in solidarity with the government as a socially responsible organization.” Satish Magar, President , CREDAI National, “The Garib Kalyan Scheme, announced by the Government today for providing the much-required relief to the economically weaker sections amidst these hard times, was the need of the hour. We thank the Government for taking cognizance of our recommendation and advising the states to use BOCW cess funds collected by the labour welfare boards in providing the immediate relief to the construction workers.” Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani, “Amid a country-wide lockdown due to coronavirus scare, businesses across states are going through a rough phase. After a slew of measures for extension of statutory and regulatory compliances, we welcome the announcement on relief package for the needy by FM to cushion the impact of coronavirus pandemic which is spreading its wings and impacting the economy. The package is covering around 80 percent of the population and this means there will be greater liquidity in the market.” India Inc has sought help for distressed businesses across sectors such as tourism, hospitality, automobiles real estate and aviation, besides micro, small and medium enterprises (MSMEs), where cash flows are down to a trickle amid mandatory adherence to tax and statutory payments.
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