Lawstreet Journal

Key Highlights from Finance Minister Nirmala Sitharaman’s Press Conference On 20 Crore Economic Package

Lawstreet Journal 17 May 2020 7:18pm

Image courtesy: Lawstreet Journal Executive Key Highlights from Finance Minister Nirmala Sitharaman’s Press Conference On 20 Crore Economic Package

Nirmala Sitharaman, the Finance Minister of India, addressed an official press conference on 13th May 2020 on the Rs 20 lakh crore economic package announced by Prime Minister Modi on Tuesday (12th May 2020).

The address was mainly focused on reliefs to Micro, Small and Medium Enterprises (MSMEs) and threw light on the several economic reliefs which have been panned by the government in line with the pandemic and its financial impact.

Following are the key highlights of the press conference addressed by the Finance Minister on 13th May 2020 at 4 P.M.:

  1. Rs. 3 Lakh Crores. Collateral free Automatic Loans for Businesses, including Micro, Small and Medium Enterprises (MSMEs)
  2. Rs 20,000 Crores. Subordinate Debt for Stressed Micro, Small and Medium Enterprises (MSMEs)
  3. Rs 50,000 Crores. Equity infusion for Micro, Small and Medium Enterprises (MSMEs) through Fund of Funds
  4. New Definition of Micro, Small and Medium Enterprises (MSMEs) (attached as picture)
  5. Global tenders to be disallowed up to Rs 200 Crores.
  6. Rs. 2500 Crores Employees' Provident Funds Support for Business & Workers for 3 more months
  7. Employees' Provident Funds contribution reduced for Business & Workers for 3 months Rs 6750 Crores. Liquidity Support
  8. Rs 30,000 Crores. Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs)/ Housing Finance Companies (HFCs)/ Microfinance Institutions (MFIs)
  9. Rs 45,000 Crores. Partial Credit Guarantee Scheme 2.0 for Non-Banking Financial Companies (NBFCs)
  10. Rs. 90,000 Cr. Liquidity Injection for Distribution Companies (DISCOMs)
  11. Extension of Registration and Completion Date of Real Estate Projects under Real Estate Regulatory Authority (RERA)
  12. Rs. 50,000 Crores. liquidity through Tax Deducted at Source (TDS) and Tax collected at source… Continue Reading...

    Tagged: Nirmala Sitharaman  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 0
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.