Economy

Coronavirus | Extend compliance timelines, India Inc. tells Finance Minister

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman.   | Photo Credit: PTI

Industry leaders have urged the government to extend timelines for compliances under corporate and taxation laws and consider repeating some of the support measures announced for businesses after the national lockdown in March 2020, given the fresh spate of lockdowns in parts of the country, including Maharashtra and Delhi.

In an interaction with Finance Minister Nirmala Sitharaman on Thursday, PHD Chamber of Commerce and Industry president Sanjay Aggarwal said the central government had last year acted swiftly and extended the timelines for compliances under various corporate laws and the same steps and support measures are required this year also.

Ms. Sitharaman assured that industry’s inputs will be considered for the industrial and economic growth of the country, the Finance Ministry said in a statement after the meeting. The Minister also stressed that the way to tackle the current situation is through micro containment zones 'so that life and livelihood can be protected’.

The government is ‘working arduously for smooth co-ordination between States, hospitals and suppliers of oxygen and vaccines to give relief to people in the fight against COVID-19’, Ms. Sitharaman pointed out.

"Provision of oxygen, vaccines and their logistics to people affected by coronavirus is being ensured, given the recent surge in cases of COVID-19 pandemic across the country," she said, adding that the government is identifying idle manufacturing capacities for bolstering oxygen supplies.

"The Prime Minister himself is monitoring the situation with eminent doctors and vaccine manufacturers. The import of vaccines, certified by international bodies has been allowed; support is being extended to manufacturers by way of giving advances and vaccination drive against coronavirus has been allowed for people aged 18 years and above from 1st May 2021,” the Minister said.

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Printable version | May 6, 2021 5:19:37 AM | https://www.thehindu.com/business/Economy/extend-compliance-timelines-india-inc-tells-finance-minister/article34386968.ece

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