[ad_1]
NEW DELHI: Union Minister Nitin Gadkari said Monday that he expects the Center to reveal a financial package in two or three days, noting that the situation “was very bad” despite the three-month moratorium on loan repayments announced by the RBI (Reserve Bank of India).
The minister for micro, small and medium-sized enterprises (MSMEs), road transport and highways said that the government supports the industry, but also needs to understand the government’s limitations.
“We are doing everything we can to protect everyone,” said Gadkari, adding that while the governments of Japan and the United States have announced mega packages, their economies are larger than India’s.
As part of measures to alleviate difficulties facing people, the Reserve Bank on March 27 announced a series of measures, including a three-month moratorium on loan repayments.
More about Covid-19
The minister for micro, small and medium-sized enterprises (MSMEs), road transport and highways said that the government supports the industry, but also needs to understand the government’s limitations.
“We are doing everything we can to protect everyone,” said Gadkari, adding that while the governments of Japan and the United States have announced mega packages, their economies are larger than India’s.
As part of measures to alleviate difficulties facing people, the Reserve Bank on March 27 announced a series of measures, including a three-month moratorium on loan repayments.
More about Covid-19
In interacting with the Telangana industry through a video conference, the minister said he also suggested that the finance ministry explore a mechanism through which income taxes and GST refund payments can be immediately transferred to the account. bank of the person in question.
Gadkari said he has shared the recommendations arising from his MSMEs and industry-related interactions with the finance minister and the prime minister.
The minister said that “within 2-3 days somewhere” he expected “a package from the government.” “We are waiting for that,” he added.
.
[ad_2]
