FTCCI Appreciates Union Govt’s Financial Package

The Federation of Telangana Chambers of Commerce and Industry (FTCCI) believe that the 6-point agenda announced by the Union Finance Minister, N Sitharaman, will improve the economy of the country. This is good in certain aspects, said the FTCCI President, Karunendra S Jasti.

“The Finance Minister has touched upon certain good points of the MSME sector. It’s a good move that MSMEs infuse indirectly through loans which do not require collaterals. As such, money is being easily available to the MSMEs infusion of funds”, Jasti said.

The profile of MSMEs has now changed further which is good for further 25 lakhs to on one crore small industries from five crores to 10 crores medium industry from 10 crore – 20 crore, Also linking up with the turnover is an Excellent move which has been long demanded by the industry, he further said. ''We welcome the Govt. decision to release all pending payments from PSUs and CPSUs in next 45 days. We are happy that service industry is considered equally as a MSMEs industry.

''With regard to EPF we always felt that the government should Waive out riders that were there earlier and make it available to all MSMES across the board without any restrictions on the numbers of employees or below 15000 salary of the salary being paid which was not done and it’s disappointing and they have stuck to their old stand which needs to be re-looked.

We expected the government as per the ESI Act, the wages should be made payable as per the ESI act for the lockdown period was not looked into.

''The DISCOMs of all the states are given Rs 90,000 crore tide over their financial crisis and pay to Generating companies. It is expressed by FM that this will benefit consumers and we wish that Govt of Telangana will pass it on to consumers.