KTR seeks supportive measures for MSME sector
The Hindu
Wants Centre to announce moratorium on loans availed till March 31, 2022
Pitching strongly for supportive measures to the MSME sector, Industries and IT Minister K.T. Rama Rao urged the Central government to announce moratorium on the loans availed by MSMEs till the end of the current financial year without any accrual of interest during the moratorium period. The support would provide big relief to MSMEs and could help them get back to normalcy. The Minister addressed a letter to Union Finance Minister Nirmala Sitharaman, requesting the Centre to support the MSME sector established in the State. While the incidence of COVID-19 was declining sharply and there were chances of modest economic recovery towards the end of the fourth quarter, the MSME sector still needed support. Looking at the seriousness of loss of business and declining revenues of the MSMEs, it would be justified if the loans availed by them were given moratorium till March 31, 2022.More Related News