Covid-hit Karnataka trade and industry seeks relief package prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
Karnataka trade body seeks sops for COVID-hit businesses
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Reeling under the impact of the extended lockdown across the state, the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) on Friday sought concessions from the state government to the business community suffering mounting losses. We urge the state government to waive fixed charges on power levied by state-run distributors on all industrial and commercial establishments, which are reeling under the COVID-induced lockdown that has been extended till June 7, said FKCCI president Perikal Sundar in a statement here.
The trade body also asked the government to defer payment of current and water bills by 3 months till August 31, as trading and business activities have come to a standstill due to the lockdown imposed since April 27 to contain the virus spread in the pandemic s second wave.
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Trade body says economy showing signs of revival will tumble again
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Every day, Karnataka earns around ₹1,000 crore in terms of exports, local sales, GST collection, Excise, and other duties, according to FKCCI.
Trade body says economy showing signs of revival will tumble again
The fortnight-long lockdown will bring revenues down by 80% and the economy that has been seeing slight signs of recovery in the last three months will tumble again, according to trade body FKCCI. “Every day, Karnataka earns around ₹1,000 crore in terms of exports, local sales, GST collection, excise and other duties. Some 80% of our revenues will be lost during this lockdown,” said Perikal Sundar, president, FKCCI.