Cir No. 15 /C-2/20
|Cir No. 15 /C-2/20||23rd May 2020|
TO ALL MEMBERS OF THE ASSOCIATION :
We are enclosing herewith the Measures Announced by the Hon’ble Finance Minister that can have Impactful Outcome for the Textile & Apparel Sectors, especially for the MSMEs, as part of the Revival Package for the Indian Economy.
The Announcements include several Measures, some of which are:
1. Rs. 3 Lakh Crore Emergency Working Capital Facility for Business, including MSMEs:
2. Rs. 20,000 Crore Subordinate Debt for Stressed MSMEs:
3. Rs. 50,000 Crores equity infusion through MSME Fund of Funds.
4. New definition of MSME
5. Employees Provident Fund Support for Business and Organized Workers.
6. EPF Contribution to be reduced for Employers and Employees for 3 Months.
This is for your kind information.