New Delhi, Aug. 23 -- Union Finance Minister Nirmala Sitharaman held a press conference to address various issues with regard to economic slowdown and measures to be taken to tackle the same.
The government will amend the MSME Act to have a single definition for MSMEs. These changes in the act will be taken up by the Cabinet soon. A single definition would serve the MSMEs now but not on the basis of turnover but also on things like plant machinery, Sitharaman said.
All the pending GST refunds shall be paid within 30 days. Everything which is pending from years to today will be sorted out within 30 days. For now, any future GST refunds that will arise from now will be sorted within 60 days after it arises, Sitharaman said.
To make the...