SOS needed from the Government: Siddhartha Chaturvedi
Last 15 days have been incredibly tough for our industry and suddenly it looks like a sinking ship of sorts writes Siddhartha Chaturvedi - CEO, Event Crafter.
We are amidst some extraordinary tough times. Last 15 days have been incredibly tough for our industry and suddenly it looks like a sinking ship of sorts if we don't get immediate government interventions and help extended. Our industry had worked relentlessly over the years for all stakeholders weather it will be Government or corporate and other clients. Due to the panic created around the pandemic, and we responsibly are cooperating in cancelling, postponing our business indefinitely in larger interest of everyone around. We are in dire need of help now as we have our overheads to run our businesses and salaries to pay to our employees and it has to come first from our Government in these testing times.
Here are few suggestions which I feel the government should empathetically look at providing to help us stand back on our feet:
1) We should have all tax holidays for the next financial year 20-21
2) The GST we collect from our customers should not be deposited and be allowed to use to cover the internal losses for the year.
3) A 9-12months moratorium in all principal and interest payment of loans and overdrafts
4) MGNREGA funds should be used to pay off salaries of our employees for atleast six months.
5) Immediate process and availability of term and working capital loans with interest waiver for 9-12 months
6) Reward the corporates with a 200% weighted exemption of expenses on all domestic events and conferences.
7) Allow free rentals (on merit of the event) to use the national monuments and other government venues for a year.
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