Relief measures announced by Hon’ble Finance Minister, Smt. Nirmala Sitharaman, are in line with the industry expectations, looking forward to a financial package sooner than later : PHDCCI

No.PR-162

March 24, 2020

New Delhi

Relief measures announced by Hon'ble Finance Minister, Smt. Nirmala Sitharaman, are in line with the industry expectations, looking forward to a financial package sooner than later : PHDCCI

Various relief measures announced by Hon'ble Finance Minister, Smt. 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 issued here today.

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, said Dr Aggarwal

Ends.

Media Division

PHD Chamber of Commerce and Industry