STATE TIMES NEWS JAMMU: Citizen’s Forum welcomed the decision of Governor’s administration for calling State Level Bankers Committee and deciding recommendation of extension of loan repayment by 90 days for J&K traders / industrialist. “We request a provision for further three months for the same to be kept in case of present situation prevails continuously in the State,” R K Chadha President Citizen’s Forum said in a statement issued here on Wednesday. The Forum once again requested Nirmala Sitaraman, Finance Minister of India, to understand and grasp present depressive business situation of the country as a common man that flow of money has come down sharply in the country. “Please note the amount of money in circulation before demonetisation has not evaporated in the air. It is there in the country but not being spent or transferred because of strict Income Tax and other penalties being imposed on the business people. If you remember such type of situation never occurred before demonetisation and introduction of haphazard GST. We request you to kindly bring drastic changes in flow and transfer of money without any Tax riders and bring down GST at one level,” he said. Chadha further requested for instructing banks to provide further loans for their working capital and other requirement, and do not put forward rules and conditions of financing. “A very strange condition of over-age is put to senior citizens for giving further loan, while he is paying maximum Income tax, doing excellent business and is suffering from the present depression. A working and earning handsomely man is never over-aged,” Chadha added. The signatory to the statement included S S Wazir, Dr. Ravinder Madan, Dr Arun Gupta, R K Handa, Arun Sharma, S K Gupta, Deepak Handa former State Secretary PDP, Lalit Makin, Harbans Wahi, Jit Pal Sahni, Pooja Malhotra, Ashok Parihar, Anil Sethi, Anuj Dewan Raina, Aditya Sharma, Ashok Misra, M.S Kapoor, Veena Handa, Sarfta Oswal, Samir Bhasin and Sunny Dua.
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