NEW DELHI: Business Chair Assocham on Wednesday urged the authorities to expand relief measures like regulatory easing, wage aid, and interest subsidy for those MSMEs that are reeling under the acute effects of Covid-19.
Since the nations are still in the process of facilitating lockdowns, the commerce and business would require all-around help to pick their enterprise thread , it stated.
It’s indicated that the excess capital of ESIC (Employees State Insurance Corporation) ought to be utilized for supplying wage aid measures/stimulus bundles for your workers.
“This really is time to encourage and invest without providing too much focus on the monetary parameters.
I’m positive the RBI and the authorities are continuously focusing on innovative options to maintain infusing money into the machine despite clear earnings pressures,” it stated.
It added to the government and the RBI must’think about an interest subvention plot with validity until March 31, 2022, particularly, for its micro and small company section.
For supplying relief into the worst-hit hospitality industry, the room suggested permitting GST Input Credit for restaurants.
“By way of giving a much-needed increase into the realty industry, it’s advocated decrease in stamp duty and land taxation by half for three decades,” it stated.