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COVID EMERGENCY CREDIT FACILITY COVERS ALL COMPANIES AND NOT JUST MSMEs

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Union Minister of Finance Smt. Nirmala Sitharaman on 08 June, 2020 said the COVID Emergency Credit Facility covers all companies and not just MSMEs. Addressing the FICCI National Executive Committee, Smt. Sitharaman assured the industry of all possible support and reviving the economy, and said, “We are committed to support if any of your members have a problem”.

  • On the question of liquidity, the Finance Minister said, “We have clearly addressed the issue of liquidity & there is availability of the liquidity.”
  • She said every Government department has been told to clear dues and if there is any issue with any department, the government will look into it.
  • She said the Government will consider an extension in the deadline for availing the 15% corporate tax rate on new investments.
  • She said the Income Tax Refund to the corporates has also started and I-T refunds to the tune of Rs 35,000 crore have been issued in last few weeks.