Nirmala Sitharaman Announces About The Relief Through 20 Lakh Economic PackageMay 13, 2020 18:21
(Image source from: Twitter.com/ANI)
Nirmala Sitharaman Announces About The Relief Through 20 Lakh Economic Package:- Indian Prime Minister Narendra Modi yesterday announced that the Centre would stand as a support for every citizen of the country to support every field and sector during this coronavirus crisis. He announced an economic package of Rs 20 lakh crores. He said that the Union Finance Minister Nirmala Sitharaman will announce the details about the package. Niramala met the press to reveal about the economic package and how it stands as a support for everyone:
Economy, Infrastructure, Demography, Demand and Technology-driven systems are the five pillars of growth for the country.
We are here not to keep India in isolation. We are here to build a confident India which can contribute to the world's growth.
There would be direct benefits given to the Jan Dhan, Aadhaar, Mobile (JAM), PM Awaaz, Ujjwala, Microfinance schemes, Swachh Bharat, Ayushman Bharat.
Rs 1.70 lakh crore was announced for the PM Garib Kalyan Yojana scheme which is for the welfare of the poor.
We will be giving a clear picture of our plans on a regular basis.
Rs 3 lakh crore worth loans will be given for MSMEs for all the firms that are having Rs 25 crore outstanding loans whose annual turnover is over Rs 100 crores. There would be four-year tenure for the loans. The offer is valid until October 31st this year.
Rs 20,000 crore liquidity would be given through a subordinate debt-based scheme. Rs 4000 crores will be provided to CGTMSE.
Rs 50,000 crores equity will be infused into MSMEs which have an eligible corpus of Rs 10,000 crores.
All the firms with a staff of 100 and earning less than Rs 15,000 would get their PF amount deposited by the government.
Rs 200 crore worth global tenders be disallowed in government procurement.
The government will support EPF for three more months: June, July and August. Rs 2500 crores will be borne by the government.
Rs 30,000 crore special liquidity scheme has been announced for NBFCs.
Through a partial credit guarantee scheme 2.0, the government announced Rs 45,000 crore liquidity infusion.
Rs 90,000 crore emergency liquidity injection for cash-desperate discoms.
All the contracts will be extended by six months. No-cost extension is provided for six months for government contractors.
6 months suo-moto for all the real estate projects across the country.
All the pending refunds for the non-corporate businesses, charitable trusts will be released and processed immediately.
All the IT return filings are extended from July 31st to November 30th.
Rs 50,000 crores liquidity through TDS/TCS rate reduction. TDS and TCS shall be reduced by 25% of the existing rates.
(Video Source: TV9 Telugu Live)