The minister emphasized that special focus towards export enhancement is the need of the hour. He highlighted the need to focus on import substitution to replace imports with domestic production.
Union minister Nitin Gadkari on Thursday said he has requested Finance Minister Nirmala Sitharaman to expedite processing of tax refunds to businesses “anyhow” within eight days to ease the liquidity crunch being faced by MSMEs during the lockdown.
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The minister said he was constantly in touch with the Prime Minister and Finance Minister and there was “serious consideration” underway in the government regarding unveiling of another financial package soon. “GST and Income Tax refunds are not released for several days. I have also recommended that anyhow, this should be processed within eight days so that it contributes to liquidity. We have…communicated this to the Finance Minister,” said Gadkari.
Addressing a webinar organised by the Indore Management Association, the minister for MSME and Road Transport and Highways said industries should keep a positive outlook and tap the opportunities that may arise after the COVID-19 pandemic is over.
Source: Financial Express
