The Federation of Associations of Small Industries of India (FASII) has expressed disappointment over the Finance Minister’s announcement of stimulus package for MSMEs.
In a message, south zone general secretary, M.V. Swaminathan, said industry owners have demanded waiver of interest for the lockdown period, waiver of GST rate and relaxation in EPF norms and these issues have not been addressed in the package.
He said the announcement on providing bank loan without collateral security for industrial units with Rs. 100 crore turnover would not benefit the sector as most of them have a low turnover.
