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Even as the coronavirus infection rate is climbing rapidly in Tamil Nadu, the government can look at restricting movement of people for certain number hours without shutting down the industries and others, said industrialists.They also said the .
Small scale, tiny units want interest waiver to survive Covid-19 impact
By IANS |
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Small scale, tiny units want interest waiver to survive Covid-19 impact. Image Source: IANS News
Chennai, April 28 : With Covid-19 related lockdown in different parts of the country affecting production and sales, micro and small scale units are pleading for interest waiver, moratorium and lending against credit guarantees.
An official of a public sector bank preferring anonymity told IANS that if the government does not come out with a package, then the non-performing assets (NPA) of the banking sector are set to surge ahead this year. Already 40 per cent of our member units are sick for want of working capital and raw material. Further the increase in raw material prices have hit the units hard, Tamil Nadu Small and Tiny Industries Association (TANSTIA) President S. Anburajan told IANS.
MSMEs feel let down
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‘There has been no support from the government’
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‘There has been no support from the government’ A cross-section of the representatives of the Micro Small and Medium Enterprises (MSMEs) said the announcements made by Union Finance Minister Nirmala Sitharaman in the Union Budget will not solve any of the problems facing the sector for several years now.
Ms. Sitharaman said the government would reduce the customs duty uniformly to 7.5% on semis, flat, and long products of non-alloy, alloy, and stainless steel. To provide relief to metal recyclers, mostly MSMEs, she extended duty duty exemption on steel scrap till March 31, 2022.