Industry hails steps taken by Finance Minister

Tribune News Service

New Delhi, March 24

The industry has welcomed Finance Minister Nirmala Sitharaman’s relaxation in statutory and regulatory compliance matters related to several sectors.

“I appreciate the interventions announced by the Finance Minister to boost the spirit of industry, in the background of the global coronavirus pandemic. Extension of the last date for availing the much appreciated ‘Vivad se Vishwas Scheme’is a welcome move, and it will go a long way in boosting the economy in this hour of crisis,” said CII Director General Chandrajit Banerjee.

Assocham president Niranjan Hiranandani said the hike in default threshold limit under the Insolvency and Bankruptcy Code will greatly help companies where matters are before NCLT. “The statutory obligations’ relief for companies makes for a good starting point for the economic revival curve, especially for the MSMEs,” he said.

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