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Government helps small businesses to operate again
May 14, 2020
The authorities unveiled an over Rs 5.5 lakh crore package as the first installment of the “atmanirbhar (self-reliant) campaign” with a focus on MSMEs seen as key employers of unskilled, semi- and professional labourers who are affected by COVID-19. There have been measures for NBFCs and real estates.
The package focused in large part on imparting cash for the MSME sector, NBFCs, housing finance companies, microfinance agencies as well as deducted at source and tax gathered at source rates to make sure extra money in the pockets of taxpayers.
This will no longer apply to salaried people but help contract payments and people drawing professional charges.
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