Finance Minister Nirmala Sitharaman on Monday said the government is planning to extend the suspension of fresh insolvency proceedings for another three months, a move which will provide major relief to corporate borrowers hit by the coronavirus pandemic. Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken several measures, including deferment of tax payment date, to help businesses and people.
A 2011 World Bank Survey clearly indicated that there is a severe mismatch between the actual requirement of IT-ITES industry and the skills of graduates passing out from various institutions pan-India.
The Bangalore Chamber of Industry and Commerce (BCIC), which represents the medium and large industries in the state, has urged the Karnataka government to come out with a state-specific relief package for the industrial sector including announcement of a one-year interest free loan scheme to industries.
The 'Make in India' concept in the defence sector has the potential to help India meet 70 per cent of its defence needs in a few years.
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