To revive the Manufacturing Companies needs a package which includes tax holidays, export help and low-cost capital.
India’s Manufacturing Companies, to revive wants financial booster for major job generating sectors such as metals and mining, power, cement, automation, petroleum, real estate and infrastructure. And, to maintaining their financial condition due to the crises, immediately, every manufacturing industry will require at least Rs. 5 lakh crore, said by an industrialist.
So, the most of the corporate houses are planning for suspending their capital expenditure plans for the government revenue.
An Executive with an Infrastructure Company said that now the manufacturing industry wants a comprehensive package and it gives relief to the industries against the crises and that includes tax holiday, export aid and low cost capital. This will help to attract the foreign investments.
On Tuesday, May 12, 2020, Prime Minister Narendra Modi announced an economic package of Rs. 20 lakh crore for helping the people fight against the economic impact due to the COVID-19 pandemic and he also said that government of India is working on a package “Atma Nirbhar Bharat Abhiyan” for economic revival.
Another Executive with an Infrastructure Company said “If the government tries to club the earlier budgeted projects in a different bucket, the real recovery will be a myth in the near term”. Prime Minister Narendra Modi restates that the package will stimulus businesses attract investment and strengthen Make in India mission.
India’s Markets are not active at this movement since last March due to COVID-19, nationwide lockdown and the lockdown continuing and it will be continued till the government not satisfied by this dangerous virus, coronavirus. So some big companies are good to easily find the active markets in the abroad. But there are several small and medium businesses, they are not good to find global buyer for them and also find it difficult for the same. So, the Capital is a big issue for manufacturing companies.
