Published On : Wed, May 13th, 2020

VTA praises PM for 20 Lakh Crore financial relief package

Nagpur: Vidarbha Taxpayers Association (VTA) through a letter of appreciation to Prime Minister Narendra Modi expressed wholehearted gratitude for declaring economic package of Rs. 20,00,000 Crore taking into consideration the current economic situation due to Covid-19 pandemic.

Shri Shrawan Kumar Malu President of VTA said, we had not imagined such a huge financial package, which is equivalent to 10% of country’s GDP and strongly believe that this would soon address liquidity crunch, which will also promote lending thereby encouraging livelihood and much required tax waivers.

Tejinder Singh Renu – Secretary of VTA said that this gigantic figure of Rs. 20 Lakh Crore almost means Rs.15,000 per Indian, which will surely bring much relief to the large population who are very uncertain of their future; although we certainly understand that this doesn’t mean all will receive cash benefits.

VTA admires Atmanirbhar Bharat Abhiyan, which is taking care of 15 different measures, six of which pertain to the micro, small and medium enterprises (MSMEs), two related to Employees’ Provident Fund, two on non-banking finance companies (NBFCs), housing finance companies (HFCs) and micro-finance institutions (MFIs), one on discoms, one for contractors, one for real estate and 3 tax measures. VTA is glad these measures will surely make Indian economy strong and self-reliant.