The Union Minister for MSMEs and Road Transport and Highways, Shri Nitin Gadkari through the press release on 09 May 2020 has assured the Retailers Association of India and Practicing Engineers, Architects and Town Planners Association (India) that their request for registering as MSMEs will be examined.
The Minister was addressing meetings via video conferencing with the representatives of Retailers Association of India and representatives of Practicing Engineers, Architects and Town Planners Association (India) on impact of COVID-19 on their respective sectors. Their major suggestions included:
- Registering retailers/restaurants/architectural firms as MSMEs.
- Starting Malls with conditions of safety measures related to COVID-19.
- Starting operations of e- Commerce companies for non-essential items.
- Relief in rentals for retailers.
- Extension of moratorium to 9 months.
- Reduction in bank interest rate from 10% to 4-5%.
- Adherence to RBI guidelines by private banks.
- Applying GST on receivables only
- Registration of builders as MSME who are already registered under RERA Act, etc.
Click here to Read the Press Release.
