Chandigarh industries’ body demands reassessment of preventive measures, calls for fiscal stimulus
The association has also sought immediate fiscal stimulus from the central government for revival of industry.Updated: Apr 28, 2020 23:46 IST
The Industries Association of Chandigarh (IAC) has demanded reassessment of preventive measures imposed in the city, including curfew and containment zone.
The association has also sought immediate fiscal stimulus from the central government for revival of industry. Chandigarh has been declared a hotspot (red) zone by the Centre.
In a letter to UT finance secretary, association president Pankaj Khanna Khanna said, “Let it not be a trade-off between life and livelihood. Government should do whatever it takes to contain the disease. However, the same sensitivity should be shown towards hand holding the industry in its gravest hours as well.”
“The industry is facing its death-knell due to mounting fixed costs including interests, wages, utility bills, taxes and statutory dues. The entrepreneurs here are now defaulting on every statutory financial obligation and there is a dire need for an immediate fiscal stimulus from the Centre,” he added.
“As far as rebooting local industries is concerned, it is possible only if parameters of hotspot zones are tweaked by the MHA. If this is done, it would be appropriate to start ‘activities’ permitted by the government in the whole country. Starting these industries in a uniform, hassle-free manner, would be the first ‘tiny’ step in the direction of reviving industries,” Khanna said.