News, Articles, Findoc
| March 26
Relief measures taken so far good, but need of the hour is financial package: Experts
The finance ministry is gathering all sources possible amidst what could be one of the worst financial crises owing to COVID-19. The virus has already shaken the equity, currency, and commodity markets, and the dark clouds of recession are looming globally. To minimize the damage, the Finance Minister Nirmala Sitharaman announced relief in compliance-related issues for the taxpayers and corporates, which, according to the experts, was the much-needed breather for the companies.
Nitin Shahi, Executive Director at Findoc Financial Services, lauds these steps by the FM. He says:
"First of all this press conference has bought confidence in the markets that the ministry is concerned and has cleared dilemma about many compliances. There are many welcome steps taken by the finance minister in the press conference specifically regarding extension of timelines in income tax, GST, MCA. Specifically regarding IBC, there are steps which are very promising,"
These steps come as a ray of hope during these dark days, and the FM is all set to provide more such measures to provide the maximum cushion against the current economic crisis.