Ease of doing business for MSMEs: Companies, especially the MSMEs, are struggling to keep afloat as their business activities collapse over time. The subsequent lockdowns have virtually shut down the businesses.
Ease of doing business for MSMEs: The Covid-19 pandemic has caused an economic slowdown on a global scale as the markets and businesses are unable to operate under these circumstances. Companies, especially the MSMEs, are struggling to keep afloat as their business activities collapse over time. The subsequent lockdowns have virtually shut down the businesses. The situation is seen to be worsening day after day, and economists have stated that it will be tough for small businesses to tide over this pandemic/ crisis without any assistance from the government. The economic problems for such small companies began well in the second quarter of this fiscal year and due to COVID-19, it has only become worse.
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The government has, of course, launched various programs over the years to help boost the economy but during such a crucial time, it is naturally a tough call to make. On one hand, the government needs to increase its revenue collection for the necessary boost to the economy and to reach the set goals, whereas on the other hand, the industries could suffer heavy losses without any relaxations or waivers.
Source: Financial Express
