Relief for MSMEs amid coronavirus in IT/ITeS as govt waives off rent for units based in tech parks
The Ministry of Electronics and Information Technology has announced that it will waive off payment of rentals for small IT units housed in STPI premises for a four-month period as of now between March 1, 2020, and June 30, 2020. SPTI, operating under Meity has 60 centres in India.
Parul April 17, 2020
MORE IN News
EPFO adds 14.41 lakh members in March, 57 pc are youths in new jobs
Next 10 years going to be even more exciting for India’s tech journey: Rajeev Chandrasekhar
Trust, respect of customers essential for businesses to flourish: Narayana Murthy
CCI in process of notifying revamped merger control regulations
India, UNDP partner to digitise vaccine cold chain for livestock
As per news reports, the government has decided to provide relief to IT/ITeS MSMEs and startups based in Software Technology Parks of India (STPI) amid Coronavirus crisis and lockdown.
The Ministry of Electronics and Information Technology has announced that it will waive off payment of rentals for small IT units housed in STPI premises for a four-month period as of now between March 1, 2020, and June 30, 2020. SPTI, operating under Meity has 60 centres in India.
the ministry quoted, “this move will provide relief to “nearly 200 IT/ ITeS MSMEs, operating from these 60 STPI centers,” the ministry said in a statement. The total cost involved in waiving of these rentals by the government is likely to be around Rs 5 crore. The move is “also in the larger interest of around 3,000 IT/ ITeS employees who are directly supported by these units.”
MSMEs and small business across sectors in India have been impacted due to the Coronavirus crisis as the government enforced lockdown last month. Factories and other establishments have been shut down during the period.
However, Union MSME Minister, Nitin Gadkari has urged small businesses to take consider the current crisis as an opportunity instead of a challenge. In fact, Gadkari had last month raised concern over the government bodies delaying MSMEs payments for goods bought by as much as three-four months.