NEW DELHI: Welcoming the slew of measures announced by the Hon'ble
Finance Minister, Ms Nirmala Sitharaman; Mr Sharad Kumar Saraf said that
announcements made by the Government is aimed at investment stimulus,
demand stimulus, Ease of Doing Business and recognition to wealth
creators. Besides the roll back of the higher tax on foreign investors
and the release of funds to recapitalise public sector banks will go a
long-way in easing liquidity and further giving a much needed boost to
the economy in such challenging times added Mr Saraf.
Further simplifying the GST system, the Government announced that all
pending GST returns for MSME till now will be sorted out in 30 days with
future refunds in 60 days.
This initiative of the Government will further help the trade and
industry to overcome their problem of liquidity and capital requirements
said Mr Sharad Kumar Saraf.
FIEO President added that recapitalising of banks by Rs 70,000 crore
upfront as additional lending and liquidity along with banks being asked
to pass on rate cuts through MCLR reduction to further make Rs 5 lakh
crore available for credit expansion will further help in creation of
liquidity into the system.
The reforms and measures to revive economic growth in such challenging
times shows the commitment of the Government under the dynamic
leadership of the Prime Minister on a road map for New India based on
inclusive growth.
No comments:
Post a Comment