Venkaiah Briefs PM, FM on Loss to Industry in Rain-affected Chennai

Union Minister for Parliamentary Affairs M Venkaiah Naidu has briefed Prime Minister Narendra Modi, Finance Minister Arun Jaitley.

Published: 18th December 2015 04:16 AM  |   Last Updated: 18th December 2015 04:25 AM   |  A+A-

CHENNAI: Union Minister for Parliamentary Affairs M Venkaiah Naidu has briefed Prime Minister Narendra Modi, Finance Minister Arun Jaitley and Minister for Small and Medium Enterprise, Kalraj Mishra on the heavy losses suffered by the industrial sector, notably the MSME and small scale industries, in the unprecedented heavy rains and floods in Chennai and other neighbouring areas.

Naidu, who visited the rain hit areas of Chennai on December 12-13, saw the enormous damage to property and infrastructure that this natural calamity had caused, a press note from his office stated and recalled his talks with the Tamil Nadu Chief Minister, J Jayalalithaa.

Naidu suggested that the Finance Minister as well as the Minister for Small and Medium Enterprises should study the situation and take early steps for survey and settlement of insurance claims for damages suffered by the industry.

Other relief such as restructuring loans, extending soft loans at low interest should also be considered to help the units. Both the Ministers have promised to visit Chennai during the weekend and take steps for early revival of MSME and SSI units.

Naidu said that the main cause of flooding had been large scale encroachments particularly on river beds of Adyar, Cooum and the Buckingham Canal. To avoid such mishaps in future, long term measures were needed, such as widening the river beds, deepening and desilting lakes and water channels, removal of encroachments and other obstacles to free flow of water in the rivulets.

Last date extended

Chennai: The Central Board of Direct Taxes has extended the last date for payment of the December instalment of advance tax for both corporate and non-corporate taxpayers from December 15 to 31 in TN and Puducherry.

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