Provide relief to small biz, industry: FTCCI tells Centre

Our Bureau Hyderabad | Updated on April 14, 2020 Published on April 14, 2020

Requests to increase wage limit under PMGKY

The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has appealed to the Union government to provide relief to small and medium businesses and industries.

While appreciating the Centre’s move to check the spread of coronavirus, Karunendra S Jasti, President, FTCCI, stated the small and medium enterprises and industries would require immediate support to face the challenges in the areas of finance, supply of raw materials, work force, marketing and logistics.

The government on March 26 had announced ₹1.70-lakh crore relief package under Pradhan Mantri Garib Kalyan Yojana (PMGKY). As part of the package, the Centre had proposed to pay 24 per cent of the monthly wages into EPF accounts for next three months. The scheme is a welcome step as it leaves the employer with some money in his hands. But the conditions for the eligibility to avail the scheme puts more than 95 per cent of MSMEs out of the purview, thus providing marginal relief to the small businesses and industries.

In this regard, the Federation requested the government to consider amending the conditions by increasing the wage limit to ₹25,000 a month and to consider its applicability to organisations up to minimum of 200 employees in labour intensive sectors.

Since the Centre declared Covid-19 as ‘National Disaster’, the Federation requested the government to utilise funds in ESI to pay wages for April and May 2020 to the employees covered under ESI Act.

Published on April 14, 2020

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