Of the fifteen measures announced these days at a press meeting, 6 measures are for the advantage of MSMEs, 2 are associated to Worker Provident Fund, and three are direct tax associated.
TEA president thanked Primary Minister Narendra Modi, Union finance minister and Union minister of state for finance for laying out in depth eyesight to spur expansion and make Self-reliant India (Aatma Nirbhar Bharat).
Shanmugam appreciated collateral free automated mortgage for regular MSMEs, Subordinate Credit card debt for stressed MSMEs, and Fairness infusion for MSMEs by way of Fund of Resources.
The continuance of Pradhan Mantri Garib Kalyan Package (PMGKP), payment of twelve% of employer and twelve% employee contributions into EPF accounts of suitable establishments for a further three months to wage months of June, July and August 2020 is also a welcome stage, Shanmugam explained in a press launch.
He lauded reduction of employer as perfectly as employee EPF contribution for business & employees for three months from twelve% to 10%. He also appreciated other direct tax measures and extension of day for revenue tax return filing.
Fibre2Fashion Information Desk (RKS)
Tiruppur Exporters Affiliation (TEA) has welcomed the announcement of fifteen diverse measures by Union finance minister Nirmala Sitharaman these days. TEA president Raja M Shanmugam specially thanked the minister for revising the definition of micro, little and medium enterprises (MSMEs) linking with additional conditions of annual revenue turnover.