Govt should help business community

The Arunachal Chamber of Commerce and Industries (ACCI) has sought “working capital gap funding for business enterprises” as relief amid the nationwide Covid-19 lockdown. The state’s apex body of traders suggested a model of 10:40:50 proportion for the financial package, with no processing fees or pre-payment penalties, “wherein 10 percent will be promoter’s contribution, 40 percent will be state government’s gap funding, and 50 percent will be loan component.” Earlier, the Arunachal Pradesh Small Tea Growers Association also requested the state government to extend financial help “by bearing the cost of two times pruning of tea leaves @ Rs 14,000 per hectare as a special tea revamp package in the state.” The nationwide lockdown imposed to contain the spread of Covid-19 has badly hit the business community.
The appeals by the ACCI and the tea growers’ association needs to be look into by the government. They not only contribute to the economy of the state but also generate employment opportunities. The state government will have to study the demand put forward by the business communities and extend all possible cooperation to them. Perhaps without the support of the government many of them may not survive the effect of the lockdown. It will have serious repercussion. The government should constitute an expert committee, headed by some known economist, and seek measures on how to rebuild the economy post the lifting of the lockdown. Let the expert advise the government the best possible measures to boost the economy. Timely action by the government will be welcomed by the members of the business community of the state.