Extend financial package to cover losses of covid19 lockdown to small businessman also....

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On March 26th 2020, Finance Minister Nirmala Sitharaman announced Rs 1.7 lakh crore relief package mainly for poor people who are farmers, daily wage earning labourers and women of economically backward class wherein free food & LPG  cylinders, cash transfer, loan waiver and fresh loans would be provided to help them tide over the crisis created due to covid-19 pandemic.

This particular package has left out the middle class with small businesses and very low income with which they are supporting their families and lives with adjustments and hardships. The FM had given relief two days ago, just by announcing relaxation in compliance dates and penalties but fell short of giving some measure which will boost businesses when the lockdown is over. Even the concessions announced by the Reserve Bank will also benefit only a small section of people who are mainly employees, such as those who have availed loans and bought goods on EMI. Anyway, the benefit of the reduction in interest will be going to big business houses whose borrowings are in thousands of crores of rupees. We as a small businessmen even do not get loan easily.

We, as small entrepreneurs provide employment and pay salaries, pay several types of taxes, rent, electric bills, interest etc. and during the lockdown these would not be stopped for payment. Hence, we are the community who are suffering the most with no business during this period and further ripple effects.

The poor may get free doles from the governments, but we earn our daily bread with pride and self esteem and cannot go out with begging bowl asking for free doles. 

I further demand that we must also be given relief by lowering custom duties & GST on all products for six months, waiver of income tax payment up to income up to 10 lakh with all benefits of deductions on investments, insurance, savings, education expenses and other allowed deductions. Provide easy loans with very low rates of interest @ 3-5% without collateral and a moratorium on interest for six months repayment for one year ranging up to 25 lakh.

Further, if you feel that any other demands should be added please write in your comments...