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Published on 28/03/2020 5:43:35 PM | Source: IANS

MCA discusses India Inc's concerns with industry bodies

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Finance Minister Nirmala Sitharaman on Saturday said that the Secretary for the Ministry of Corporate Affairs (MCA) Injeti Srinivas has discussed concerns of the India Inc with industry bodies --FICCI, CII, ASSOCHAM and PHD Chamber of Commerce and Industry.

In a tweet, Sitharaman said the Ministry of Finance will continuously respond to inputs by the industry.

"SSecretary, Corporate Affairs has held discussions with @FollowCII @ficci_india @ASSOCHAM4India and @phdchamber to hear and address their concerns. @FinMinIndia will continuously remain and respond to Industry's inputs," Sitharaman tweeted.

The statement from the Finance Minister comes days after she announced a Rs 1.70 lakh crore package aimed at providing food security to the poor and money in their hands amid the coronavirus pandemic and the nationwide lockdown.

On Thursday, Sitharaman also indicated that concerns of India Inc, small-to-medium enterprises (SMEs) segments and other segments hit by the lockdown might be looked at and that the government could announce a plan later.

"Our first priority is to provide food to the poor and money in their hands. We will think about other things later," Sitharaman said.

On relief to the travel and aviation sectors that are bearing the brunt of the lockdown, the Finance Minister said, "We will come back when something is ready."

The industry has sought several reliefs along with a financial package.

The Reserve Bank of India, along with several relief measures including relaxation in terms of loan repayments and NPA classification, announced a much-awaited 75 basis point repo rate cut to 4.4 per cent.