Coronavirus | Extend compliance timelines, India Inc. tells Finance Minister

Amid spike in cases, stakeholders ask Nirmala Sitharaman to extend the same measures as last year.

Industry leaders have urged the government to extend timelines for compliances under corporate and taxation laws and consider repeating some of the support measures announced for businesses after the national lockdown in March 2020, given the fresh spate of lockdowns in parts of the country, including Maharashtra and Delhi. In an interaction with Finance Minister Nirmala Sitharaman on Thursday, PHD Chamber of Commerce and Industry president Sanjay Aggarwal said the central government had last year acted swiftly and extended the timelines for compliances under various corporate laws and the same steps and support measures are required this year also. Ms. Sitharaman assured that industry’s inputs will be considered for the industrial and economic growth of the country, the Finance Ministry said in a statement after the meeting. The Minister also stressed that the way to tackle the current situation is through micro containment zones 'so that life and livelihood can be protected’.