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  • Category: Miscellaneous

    Do you support the six month breather given for Industries to avoid defaulting loans

    Since January 2020 the Industries are facing their worst time due to economic recession and those companies which were about to be defined as default payers of loans were in quandary and meanwhile the lock down took the total toll of the Industries functioning. Having seen this plight the cabinet made a far reaching decision to give the Industries and companies six months more time to pay back their loans and avoid being branded as defaulters. What is your view on this great decision. Will this bring back the loans advanced to the Industries?
  • #698655
    Industries are going through a rough weather and it is imperative that the Govt has to extend a helping hand to them. There are many ways in which it can be done and loan repayment staggering is one of them. There would be many more measures from the side of Govt to help and revive the industries as they are the backbone of economic and financial progress of the country. Of course, Govt has to take care of so many classes of the society in this grim situation that it is a herculean task for the Govt to achieve all of them but I have full hopes that with continued support from the citizens, the present Govt would come out of this difficult situation soon.
    Knowledge is power.

  • #698683
    Under the present crisis, every one and everything is going through rough phase and a relief in any form is to be welcomed. For people, government had arranged for free ration, many NGO and people themselves came forward and has help the poor by feeding them, etc. Many are trying their best to help in one or the other way and it is a good approach.

    We know that due to stoppage of work, etc many industries, small firms and daily workers are fighting hard to make end meet. Many ofthe masses work in comapnies or industries and when there is no production/manufacturing, even they are going in crisies.

    At this point, paying EMI and other loans is a burden for any one. The cabinet making a decision to give the Industries and companies six months time to pay back their loans and avoid being branded as defaulters is a welcome move. When big amount of defaulters can be waived off by the centre, this gesture should not be a problem for the masses.

    “The most important thing in life is to learn how to give out love, and to let it come in." — Morrie Schwartz

  • #698689
    The industries ate not in a position to pay even salaries to the employees and there is no way for them to pay the taxes. So the relaxation is very much required. Some companies are not paid the TDS deducted from their employees to the government. So this six months time is very much required and that is good for the industry,
    But nobody thought of the plight of the employees in these small industries. I know many companies in Hyderabad has not paid the salaries to their employees for the month of April and May 2020. The government might have insisted and the labour department might have seen that wages are paid.
    Very poor people got benefitted from the amount and the items given by the government and the rich people are not having any problem. These middle-class people are suffering and nobody will think about them in this country. Politicians also don't bother for them as they are not their vote banks.

    always confident

  • #698696
    Normally the repayment of debts or loans to other than government is secondary where the government dues are to be considered as priority over anything. It is in practice since years. Since the present scenario reveals the difficulty faced by industries. the Government announces extension of time for the dues. This means there is no waiver but the priority can be given for other payments which are coming next. Industries can utilize this opportunity given by the government but provision for such payments also to be made by them simultaneously.

  • #698699
    This facility given by the government is welcomed as this period of time is in crisis. No person and firm are not in a position to be financial potentiality. Therefore, it is very much needed for the government to come to rescue such people and firms. The government of India has given moratorium to the loans which are extended to August as the salary cuts are continuing even for the employees in the government sector. But, here, interest is added to the principal during the moratorium period. However, such a decision taken by the government is appreciable.
    I believe in a positive attitude. I like those who criticize me.

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