Hit By Coronavirus Lockdown, Noida’s Small Firms Seek Government’s Help

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Hit By Coronavirus Lockdown, Noida's Small Firms Seek Government's Help

Struggling to remain afloat as a result of coronavirus outbreak and the following lockdown, micro, small and medium enterprises (MSMEs) throughout Noida and Greater Noida have knocked the central authorities’s door, in search of aid measures together with interest-free loans and waiver in energy tariff and lease hire.

Some of them are even contemplating closing down their models after getting no assist from the federal government, the Noida Entrepreneurs’ Association (NEA), an area trade physique, claimed.

“After completing one month of the lockdown, entrepreneurs are now calling and saying they are very upset that after this long wait they are not getting any relief from the government,” NEA President Vipin Malhan stated in an announcement.

“Some entrepreneurs are planning to close their units if they do not get any relief. According to them, they are already in loss due to worldwide recession and they have huge loans and liabilities. How can they survive now?” he stated.

The NEA, which has roughly 3,000 MSMEs as its members in western Uttar Pradesh’s Gautam Buddh Nagar, have sought authorities assist in order that these companies can re-establish themselves, NEA vice chairman and spokesperson Sudhir Srivastava stated.

The NEA stated banks ought to fully waive the curiosity on loans for the lockdown interval, whereas salaries given by the businesses must be borne by the Employees” State Insurance (ESI) throughout this era of restriction.

Putting forth different calls for, Mr Srivastava stated, “Fixed charge in the electricity bill should be waived for the lockdown period. Lease rent charged by Noida Authority should also be waived for the lockdown period.”

Banks ought to present interest-free mortgage to entrepreneurs for one yr in order that they will re-establish themselves, he added.

The NEA stated it’s hopeful that the federal government will take essential motion “very soon” to instill confidence within the MSME sector.

The NEA has written to the Prime Minister’s Office, the MSME Ministry, the Finance Ministry, amongst others, apprising them in regards to the scenario however was nonetheless awaiting their response, Mr Srivastava claimed.

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