Industry needs various relief from government for survival
Due to ongoing lockdown industries are closed and looking for breather from government. Many small and industries are looking for relief package from government. Many people have approached Suman Agarwal, General Secretary at Maharashtra Pradesh Congress committee (MPCC) with their grievances. She herself belong to the business community and also the National Secretary of Akhil Bhartiya Agrawal Sammelan based at Thane in Maharashtra.
After hearing their grievances, she has written a detailed letter to Ajit Pawar, Deputy Chief Minister and Finance Minister of Maharashtra. She has raised point wise difficulties faced by Small and Medium scale businesses. She has requested to look into these concerns of business community and take required timely actions.
She has released a press release and highlighted various issues. She has written that
The businesses and small-scale industries (SSI) are facing a situation akin to a draught. The Lockdown of 40 days in the country due to the COVID-19 pandemic has had to be implemented in the midst of an already struggling economy. This double blow has resulted in complete closure of more than 80% of businesses and SSI. This is a severe crisis for SMSEs. Industries/Businesses are not only the major source of employment but also generate revenue for the government. The way interests & loan waivers are given to the farmers in situations like draught, businesses/industries desperately need similar relief from the state government to sustain their livelihoods.
She has also written and demanded waiver of interest on loans, postponements of loan EMI, rebates in payment of taxes (GST, IT, Property tax and other taxes), waiver of demand charge in electricity bill, PF, ESIC payment by Govt, etc. There should be reforms to lower the cost of land, capital, labour and logistics.
She mentioned that as a rough estimate, for every Rs. 100/- that a businessman earns, Rs. 30/- goes towards Staff Wages, Rs. 30/- towards Establishment Cost, Rs. 30/- towards EMI & hence the profit margin after paying all the taxes is below Rs. 5/-. Thus, all the above-mentioned taxes to Central/State Govt in the form of Direct/Indirect taxes is a huge burden for any businessman in a time of crisis like the one we face today.
Post lockdown period, every business/industry has to be re-started from scratch, for which an environment of social harmony is definitely required, and that shall propel the economic growth of our country.
Editor in Chief : Mewati SItaram
