The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact. While addressing the National Executive Committee Meeting (NECM) of the Federation of Indian Chambers of Commerce and Industry (FICCI), Smt. Sitharaman said, “The focus is on restructuring. Finance ministry is actively engaged with RBI on this. In principle, the idea that there may be a restructuring required, is well taken.”
Elaborating on the extensive consultations on the reform measures that are being announced by the government, Smt. Sitharaman said, “Every step which is being announced and taken, is taken after exhaustive consultations with the stakeholders and within the government to make sure that no step is going to be a failure because we did not make necessary collateral changes. We have taken these steps to ensure that the impact is felt on the ground.”
Addressing the concerns raised by the FICCI members on the difficulties faced by the MSMEs in taking loans under the Emergency Credit Guarantee Scheme announced by the government, Smt. Sitharaman said that, “Banks cannot refuse credit to MSMEs covered under emergency credit facility. If refused, such instances must be reported. I will look into it.”
On the FICCI suggestion for creation of a Development Finance Institution to handle the emerging credit requirements of the industry, the Finance Minister said, “The work is going on the Development Finance Institution. What shape it will take, we will know shortly.”
Stressing on the need for reciprocity in trade deals, Smt. Sitharaman said, “Reciprocal arrangements are being asked with the countries with which we have opened up our markets. Reciprocity is a very critical point in our trade negotiations.”
The Finance minister said that the decision on reducing GST rates on the healthcare and other products will be taken by the GST Council.
Smt. Sitharaman said the Finance Ministry is working with RBI on the demand of the hospitality sector for extension of moratorium, or restructuring. “I fully understand the requirements of the hospitality sector on extension of the moratorium, or restructuring. We are working with RBI on this,” She said.
FICCI President Dr Sangita Reddy appreciated the government’s proactive approach in dealing with the situation. “While the green shoots of recovery are being seen, sustaining this improvement in the operational parameters of businesses will require continuous support from the government. The support is particularly needed in the realm of strengthening market demand and to boost demand,” said Dr Reddy.
FICCI Senior Vice President Mr Uday Shankar delivered the vote of thanks and said that the chamber would work with the government in mitigating the challenges faced by the industry.
if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register
& Share your contents.
For Advertisment or any query email us at firstname.lastname@example.org
1. Union Education Minister launches Minimum Standards of Architectural Education Regulations, 2020
In continuation of pertinent educational reforms being made by Ministry of Education, Shri Ramesh Pokhriyal Nishank, Education Minister virtually launched the "Minimum Standards of Architectural Education Regulations, 2020" here today. Minister of State for Education, Shri Sanjay Dhotre also graced the occasion. Senior officials of Ministry of Education and President, Council of Architecture , Ar Habeeb Khan, were also present on the occasion.
While addressing the participants S
2. Union Minister Dr. Jitendra Singh inaugurates CAT Bench at Jammu.
Union Minister Dr. Jitendra Singh inaugurates CAT Bench at Jammu.
Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today inaugurated the 18th Bench of Central Administrative Tribunal (CAT) for the Union Territories of Jammu and Kashmir and Ladakh through a Video Conference. Speaking after the inauguration Dr. Singh said that the setting up of CAT Bench of Jammu
3. 6 states and over 180 investors participate in webinar chaired by Union FPI Minister
6 states and over 180 investors participate in webinar chaired by Union FPI Minister
Smt. Harsimrat Kaur Badal, Union FPI Minister launched the Food Processing Edition of the Exclusive Investment Forum by Invest India, the National Investment Promotion & Facilitation Agency of the Government of India today.
Invest India has designed this forum of unique sectoral series to conduct detailed conversations between global industry leaders and key decision makers from the highest leve
5. Health Minister Harsh Vardhan takes charge as chairman of WHO Executive Board
Union Health Minister Dr Harsh Vardhan today took over as the chairman of the World Health Organisation (WHO) Executive Board.
Addressing the board through tele conference, Dr. Harshvardhan said that he is entering this office at a time of global crisis on account of this pandemic. He mentioned that there will
6. Union Minister of Jal Shakti requests Telangana Government to share status of rural water supply in the State
Union Minister of Jal Shakti requests Telangana Government to share status of rural water supply in the State
Union Minister of Jal Shakti, Shri Gajendra Singh Shekhawat, in an official communiqué to the Chief Minister of Telangana, raised his concerns on the status of Functional Household Tap Connections (FHTC) to be provided in the rural areas of the State. Referring to his earlier meeting with the CM, the central minister stated that complete updation of the tap connection data in I
7. Government clarifies that there is no cyber breach into NIC email system
A media story on impact of data breaches in organisations such as Air India, Big Basket and Domino’s has claimed that these breaches have exposed email accounts and passwords of NIC emails to the hackers.
In view of this it is important to clarify that firstly, there has been no cyber breach into the email system of the Government of India maintained by the National Informatics Centre (NIC). The email system is totally safe and secure.
Secondly, cyber security breach on external
14. Big Boost for Khadi Artisans with Rs.45-crore Government Purchase Orders to KVIC during 2nd Covid-19 Lockdown
Ample employment opportunities for Khadi artisans have helped them fight the financial distress once again, as most parts of the country remain under lockdown during the second wave of Covid-19 pandemic. Despite a severe jolt to the manufacturing and service sectors between March and May this year, Khadi and Village Industries Commission (KVIC) has bagged purchase orders worth over Rs. 45 crore that would support the livelihood of lakhs of Khadi artisans. The purchase orders have come from the Ministry o
18. Government receives large number of suggestions on proposed mining reforms
There is no proposal to make illegal mining as legal. The Mines ministry has clarified this today. Ministry of Mines had circulated the proposed reforms in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 with different Central Government Ministries /Departments and also to the State Government for comments / suggestions.
Further, in order to give wide publicity to the proposed reforms, as per Pre-Legislative Consultation Poli
21. ‘Government Actively Working to Support E-Mobility by Giving Several Incentives’
Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari today said that the Government is actively working to support E-mobility in the form of several incentives, GST exemption, and FAME-2 scheme. Addressing the World Conference organized by the BRICS Network University (NU), the Minister stated that the electric vehicle industry has huge employment potential and efforts are being made to establish India as the largest automobile manufacturing hub in the wo
22. Government declares Minimum Support Price for Mature Dehusked Coconut
Government declares Minimum Support Price for Mature Dehusked Coconut
Government of India has declared Minimum Support Price for mature dehusked coconut for the season 2020 at Rs. 2700/- per quintal, thus hiking the MSP by 5.02% from Rs. 2571/- per quintal during season 2019.
Giving this information, Union Minister of Agriculture & Farmers’ Welfare, Rural Development and Panchayati Raj Shri Narendra Singh Tomar said that the Government of India under Prime Minister
23. Ayush Minister launches ACCR Portal and 3rd version of Ayush Sanjivani App
Ayush Ministry marked yet another milestone on Thursday by launching its’ Ayush Clinical Case Repository (ACCR) portal and the third version of AyushSanjivani App in a virtual event. Minister of state (IC) for Youth Affairs and Sports and Ayush, Shri Kiren Rijijulaunched the portal as well as the new version of Sanjivani app.
The Ayush minister marked the event as historic and of great importance.Reiterating that Ayush streams are very much scientific Shri Rijiju emphasised that this ACCR
25. Government Jobs During Corona Pandemic
When we think of government jobs, a very vast number and name of exams come to our mind. We are amid a pandemic, which has made many people jobless, and many are not even sure of what will happen with their career. The world is trying their best to protect themselves from getting infected from Coronavirus, but financially and emotionally, they are getting affected in the long run.
Many people were preparing to get good Online Sarkari Results
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! email us at email@example.com
and submit your valuable feedback.
Save this page as PDF
| Recommend to your Friends