AIMO seeks incentives for MSMEs

New Delhi, March 26 (KNN)  In view of the ongoing nationwide lockdown due to Coronavirus pandemic, the All India Manufacturers' Organisation (AIMO) has urged the government to support the Micro Small and Medium Enterprises (MSME) sector with incentives.

"AIMO made a plea to the government that if the right support packages, incentives and measures were not provided to the MSMEs the lockdown could well turn into a 'Shutdown India'," AIMO said in a statement.

Several sectors such as aviation, hospitality, consumer durables are among the worst hit by this epidemic. All the MSMEs/self-employed individuals/entrepreneurs associated or whose revenues depend either directly or indirectly on these sectors have been on the verge of a shutdown situation,” said Shrikant Dalmia, Zonal Vice-President West, AIMO.

However, Dalmia, said that the organisation acknowledges the steps taking by Finance Minister Nirmala Sitharaman regarding the easing of compliance norms.

Sushil Vyas, Secretary of the trade body, said that it has requested the Finance Minister to waive bank interest for MSMEs and instruct banks not to make entrepreneurs' NPAs for lack of interest payment till December 31, 2020.