InvestorQ : Is the Indian government planning to give any kind of tax breaks or loan repayment delays to consumers in the light of the Coronavirus slowdown?
Dhwani Mehta made post

Is the Indian government planning to give any kind of tax breaks or loan repayment delays to consumers in the light of the Coronavirus slowdown?

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Khushi Patel answered.
1 year ago
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The government and the RBI have already infused liquidity and are now poised to give bigger sops directly to the consumers. For example, the government is considering offering easier loan repayment terms and tax breaks for small-and medium-sized companies. They have been worst hit due to combination of travel ban and cash shortages. Finance Ministry is also exploring extending loan tenors and relaxing bad-debt norms for small firms. These would be temporary measures but will give some respite to the consumers. Countries like the US and China have announced plans to spend billions of dollars to stem a slide in growth. Smaller nations are also getting aggressive on this front. India’s SMEs account for nearly half of the output and more than 70% of the jobs. While India has not been as badly affected in health terms, the numbers are growing. However, the real challenge arises from the shutdowns and closures as well as travel bans which is making millions of jobs redundant.

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