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Chamber Of Commerce And Industry Looking Forward To A Financial Package Sooner Than Later

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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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First Published: Wed, March 25 2020. 16:31 IST