NEW DELHI, MAY 13, 2020 : on Rs 20 lakh crore special package: PMModi laid out a comprehensive vision after wife and deep consultation with several sections of our society. Inputs obtained given due consideration. This is to spur growth and build a selfreliant India.
atmanirbharbharat to be built on 5 pillars. Land, labour, liquidity and law will be the focus as part of the 4th pillar. Intention to grow local to global. Production of masks and PPE grown to help globally. Even in 2014 regime, it was a sensitive govt.
NirmalaSitharaman lists out reforms introduced- kisan, Ujjwala, direct cash transfer, GST, etc have been the foundation and the reforms have helped the poor.
After Budget came coronavirus. GaribKalyan package was announced. Rs 52000 cr transferred to 41 cr accounts. 71 k tonnes of pulses for 6.5 cr card holders. Beginning today, I will come out with details. We do have. Responsibility to the poor of the country
6 steps for MSMEs. Nearly Rs 3 lakh cr loans, collateral free automatic loans. 100% credit guarantee by Govt.
To announce Rs 20 lak package over tranches thru the week. RS 20,000 For stressed MSMEs. Subordinate debt relief for 2 L stressed MSMEs to benefit. loans will be given till oct 31. Rs 50 cr equity for MSMEs.
definition of MSMEs tweaked. Investment limit being revised. Addition criteria based on turnover along with investment size. Differentiation between manufacturing and service MSMEs. Micro unit – even if investment up to Rs 1 cr Or if Turnover is upto Rs 5 cr.
no global tenders for contracts up to Rs 200 cr. Big push for local industries. in the absence of #trade fairs during #covid crisis, e-market linkage will be provided. Pending bills will be paid in 45 days.
liquidity relief is being given for all #EPF establishments. Extend support for another 3 months. 3.6 lakh establishments benefited. EPF contribution will be paid by Govt of India.
relief for private companies. Next 3 months, employers’ need to pay 10% and 12%. Govt employees still pay 12%. Liquidity relief for bother employer and employee.
relief for struggling #nbfc’s. Rs 30k cr liquidity for nbcs. Go to buy nbfc debt papers. rs 45000 cr credit guarantee for NBFCs. Govt will bear First 20% loss.
one time provision for PFCs and RECs. emergency funds of Rs 90,000 cr for Discoms. Big relief for power distribution firms.
key words : Finance Minister- NirmalaSitharaman- todays press meet- high lights.
