Gujarat State Council of the Federation of Indian Chambers of Commerce & Industry (Ficci) has urged the state government to provide appropriate relief package to the riot-hit and damaged business units in terms of investment subsidy and tax reliefs.
In a letter sent to the Gujarat finance minister Nitin Patel as well as to the industry minister Suresh Mehta, Ficci-Gujarat State Council chairman Amit Goradia said that to draw up the relief package his federation would assist the state government to assess the total loss of property to the individual businesses and industries through its established network of local business chambers.
GCCI welcomes rehab package: AHMEDABAD: The Gujarat Chamber of Commerce & Industry (GCCI) has welcomed the package announced by the state government for the rehabilitation of the riot-affected trade and industrial units and said the relief measures would |expedite their recovery and help them in resuming normal operations.
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Emphasising that the package spells out relief measures in form of interest relief of 4 per cent with maximum limit of Rs 1 lakh per annum for three years, GCCI president Kalyan J Shah said that a loan amount of Rs 25 lakh would be able to obtain interest relief to the tune of Rs 1 lakh annually.
Thus a unit would be able to receive a waiver on interest to the tune of Rs 3 lakh in three years and effective reduction in the real rate of interest would approximately come to 8 to 10 per cent, he said.