Indian corporations have been severely damaged by the rapid spread of coronaviruses. In this scenario, unemployed large-scale daily wage workers, the Federation of Indian Industries (CII) has requested the central government to pay scholarships directly to their account at the rate of Rs 5 lakh and for those above the age of 5 years, at a rate of Rs.
In a note to the Prime Minister’s Office, it said that this should be aided to increase the need for human consumption.
It details how the coroner virus will impact the industry and the economy.
The trade will be crippled by the coroner virus. As a result, economic growth is hampered. To cope with this, financial policies must be formulated. It demanded that allocation of 5 percent of the country’s GDP should be provided to those who have lost their income and provide Rs 2 lakh crore.
Crude oil prices are currently falling. The government can increase its savings. The savings amount can be used for these projects, CII said.
It states that Rs 2 lakh crore will be distributed to Tk 1,000 crore and Rs 20 crore to 5 crore people.
There are a total of two crore workers in India. These are the most vulnerable. The CII has asked the central government to make policy decisions to assure them.
It also says that one month ration should be provided for those living below the poverty line and earning daily wages.
Tax notice must be issued to restore the stock market. The 10 percent tax on long-term capital gains should be eliminated completely. The central government will have to pay this balance immediately because of the non-governmental organizations. This will reduce the financial crisis of companies who are in demand for liquidity.
Airlines, hotels, small companies and the real estate sector are among the worst hit. To reclaim these areas, an economic exemption must be announced, including tax exemptions. It also demanded additional time for payment of GST.
Similarly, to address the current situation, RBI needs to formulate monetary policy. The repo rate should be reduced by 50 points. Likewise the definition of warlock loan should be changed. The limit should be increased to 180 days.