An article by G Vishwanathan, Director of Accounting and Business Support on MSME Revival Plan Policy. The 2nd wave of the COVID-19 pandemic in India caught everyone during weary times especially the MSME Units. Outlined in this article are the various drawbacks that the second wave caused for these MSME Units including the effects of the spread of the virus to rural areas where most MSME units operate and the effect of the pandemic not only economically but also to people of the business.
Many Liquidity Injection Initiatives have been explained in detail including the need to announce Emergency Credit Line Guarantee Scheme (ECLGS), the EMI Moratorium Scheme, the need for banks to be a little more lenient to MSME Units and more. Other initiatives include the need for the government to consider the effects of the pandemic before taking action on the recovery of taxes and other dues. Published by Taxsutra.
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