The Live Nagpur
  • Nagpur City
  • Business
  • Crime
  • Editor’s Picks
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nagpur Education
  • Nagpur Sports
  • Nation
  • Politics
  • Trending
  • Vidarbha

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
Business

Economic package by FM will bring liquidity in the country

by TLN Team May 13, 2020May 13, 2020
written by TLN Team May 13, 2020May 13, 2020
Economic package by FM will bring liquidity in the country

The Confederation of All India Traders (CAIT) while reacting to the economic relief package given by the Union Finance Minister Smt Nirmala Seetharaman to the MSME sector today, stated that the Finance Minister not only assured to fill the market with the liquidity of money but also announced strong stimulus to MSME sector. The CAIT said that the government has put a strong injection of the economic package even before going of the economy under a coma due to lockdown in the Country which has deteriorated the economy. Today’s announcements will make the economy stand up even before it goes to death bed and the economy will start coming back on track with an infusion of liquidity in the market.

CAIT National President Mr. B.C. Bhartia and Secretary General Mr. Praveen Khandelwal said that today’s announcements by the Finance Minister assure the trading community of the Country for a similar package for retail trade which is conducted by 7 crore traders across Country providing employment to about 40 crore people. The trading community is the worst affected sector of the economy due to COVID-19.

Mr. Bhartia and Mr. Khandelwal said that today’s announcements have encouraged all 5 pillars of the economy and the stimulus will greatly increase the liquidity of money in the markets. Payment of bills of MSME sector within 45 days, making available additional loans by banks without collateral security and making provision of e-tendering up to Rs 200 crore to local people, e-market alignment of MSME with Trade Fairs, etc clearly states what Prime Minister Narendra Modi assured in his address yesterday. All decisions are being made accordingly. The talk of bringing liquidity of money under different names in the market is also a revolutionary step in itself.

Mr. Bhartia and Mr. Khandelwal said that strengthening NBFECs, and MFIs to provide loans to MSMEs,  Housing Finance Company will enable these institutions to lend more money too MSMEs and the said the money will be rolled out in the market.  Reducing TDS rates, cutting rates in provident funds,  tax refunds by the government and all other announcements will definitely bring the liquidity in the market to make the Indian economy stand on a sound footing.

Mr. Bhartia and Mr. Khandelwal said that the traders were hopeful that the government would declare an Abhay scheme under GST. condone any fault or lack of payment made by traders in the GST etc. will now be awaited by the traders in the following packages.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
COVID-19: One more tests positive in Nagpur, tally reaches 315
next post
 Finance Minister’s economic package for MSME sector will energise the indigenous industry: Gadkari

You may also like

JITO felicitates Shri.A.S.Rajeev,MD,Bank of Maharashtra

January 14, 2021

NVCC recommends relief to small and medium traders...

January 14, 2021

Coercive actions by Municipal Corporations on their tenants...

January 14, 2021

Declare nylon manja as corrosive substance – VTA...

January 13, 2021

I-T dept launches e-portal to tip off on...

January 13, 2021

NRHA requests relief in property tax from Mayor

January 12, 2021

VTA meets Mayor, suggest fresh green lungs for...

January 11, 2021

Union Home Minister Amit Shah launches Single Window...

January 11, 2021

First time ever Sensex hits 49,000, Nifty above...

January 11, 2021

Generate employment opportunities for graduates in the region:...

January 11, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • State Education Minister: Schools for Classes 5 to 8 to Reopen from Jan 27

    January 16, 2021
  • 62 passengers and crew aboard Indonesia plane suspected to have crashed

    January 9, 2021
  • COVID-19 Pandemic, Teachers to get Insurance Cover Facility

    January 9, 2021
  • Nagpur bagged 17th place as happiest city in India; Second In Maharashtra after Pune

    January 7, 2021
  • Pench National Park gets First Place among National Parks across Country

    January 2, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

May 2020
M T W T F S S
« Apr   Jun »
 123
45678910
11121314151617
18192021222324
25262728293031

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Business
  • Crime
  • Editor’s Picks
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nagpur Education
  • Nagpur Sports
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.