Full transmission of policy rates and easy finance to businesses crucial for effectiveness of reform efforts undertaken by government: PHD Chamber
Govt's Rs 25000 Crore Real Estate Package Will Help Revive Ailing Sector And Give A Boost To Economic Growth: PHD Chamber
Various relief measures announced by Hon'ble Finance Minister, Nirmala Sitharaman, are in line with the industry expectations. These measures will go a long way to address the issue arisen from the Impact of Covid-19, said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, in a press statement. We appreciate the proactive and combative measures undertaken by the Hon'ble Minister for a sustained economic health, like extending the last date of filing the Income tax returns for the Financial Year 2018 - 19 to 30th June 2020, reducing the interest rate for delayed payments to 9% from 12% for delayed payments; extension provided to the Vivaad se Vishwas Scheme till the 30th June 2020 and no interest, penalty and late fee to be charged for companies with a turnover of less than Rs 5 crore, among others, said Dr Aggarwal. Going forward, we suggest the government to provide a financial package which should support the businesses in terms of availability of liquidity, working capital and to meet up the maintenance of employment in their respective businesses, he added.
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