COVID Emergency Credit Facility covers all companies: N Sitharaman

Union Finance Minister Nirmala Sitharaman has said that the COVID Emergency Credit Facility covers all companies and not just MSMEs.

Addressing the FICCI National Executive Committee members today, the Finance Minister assured the industry of all possible Government support.

On the question of liquidity, she said, government has taken adequate measures to address the issue and assured every possible support to factor out remaining concerns.

Ms. Sitharaman said that every Government department has been told to clear off outstanding dues.

She



informed that the Government will also consider an extension in the deadline for availing the 15 per cent corporate tax rate on new investments.

Stressing on the necessity for revenue collection, Ms Sitharaman said that any decision regarding reduction in GST rates will be taken by the GST council.  

FICCI President Dr Sangita Reddy informed the Finance Minister that the chamber is in constant touch with different government departments to support the implementation of the measures announced to deal with the COVID-19 impact.