Indian MSMEs on ventilator; Government to allow late repayment of loans?

To combat the impending ramifications of coronavirus outbreak on the economy, the government is contemplating implementing measures like allowing late repayment of loans by the MSMEs (micro, small and medium enterprises) to support the sector, according to sources.

The government is reported to have discussed various things including providing fiscal support, some kind of rescheduling to alleviate the whole thing. Issues related to GST were also discussed, as per an official.

Senior officials from the Ministry of MSME met the Finance Minister and recommended various measures to aid the country’s micro, small and medium enterprises sector surge over the existing crisis. The MSME industry is confronting major disruptions in the supply chain due to the coronavirus outburst amidst fragility in consumption demand.

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