Measures to help businesses battling Coronavirus shutdown
1/7
Ease of doing business
- Enhance validity of existing licenses, approvals and NoCs
- Quick disbursal of pending dues to the private sector
- Speedy clearances for Pharma and Chemical industries
- Extend sunset date of SEZ units for direct tax benefits
2/7
Medical equipment and supplies
- Speedy clearance of medical devices at ports
- 0% import duty on critical medical devices
- Respite from bank repayments for MedTech manufacturers
3/7
Digital payments
- Extend incentive for customers and merchants to adopt digital payments
- Tax rebates for businesses with 70% digital transactions
- Mass ad campaing for digital transactions & e-comm
- Prohibit convenience fees and service charges
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4/7
Logistics
- Transport sector be deemed essential service
- Ways & means advance to pay salaries
- Single government point of contact for supply chains
- States can appoint private sector to handle warehousing and transport
5/7
MSMEs
- License NBFCs to issue cards to SMEs for working capital credit
- 60 day extension for payment of income tax and GST
- Extend business insurance policies and coverage
- Extension of bank EMIs till June 30
6/7
Tourism & hospitality
- 6-9 month moratorium on working capital principle, interest payments
- GST holiday for hotels, tour packages and reservation services
- Short-term interest free or low interest loans
- Doubling of overdraft limits
7/7
Textiles & apparel
- Extend 0% interest loans equivalent to govt dues
- Wage subsidy up to 50% for registered workers for 2 quarters
- Exempt raw materials from anti-dumping duties
- Working capital at max 7% from April-Dec 2020