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Nasscom asks govt to help startups burdened by Covid-19 lockdown

NASSCOM approaches govt to lessen the burden on startups. Indian startup scenario took a hit following the COVID-19. NASSCOM raised concerns over cash flow, taxation, credit mechanism and more. Startups are facing time loss and project delays due to COVID-19 and lockdown. Nasscom requested rental subsidy for govt-owned workspaces. Blanket suspension on all deadlines until at least 4 weeks after lifting the lockdown. Voluntary support such as overdraft facility from banks.Govt returning GST tax collected as capital funding/loan to startups. Allow access to collateral-free loans through PSU Banks for SMEs. Relax norms with respect to loan payments.Encourage Make-In-India software products to meet procurement requirements.

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