Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan KEY HIGHLIGHTS Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost Increased investments in Public Health and other health reforms to prepare India for future pandemics Technology Driven Education with Equity post-COVID Further enhancement of Ease of Doing Business through IBC related measures Decriminalisation of Companies Act defa..
1. Finance Minister Nirmala Sitharaman begins address Today is the 4th day where after the PM's address to the nation on building a Atmanirbhar Bharat, we have been announcing in several tranches steps that we will take to give a stimulus to help and to extend assistance as the government. 2. FM said that the government is trying to give little assistance to the people FM said that the government is trying to give little assistance to the people so that they don't suffer in this..
Overview of PAST THREE Tranches: The first tranche included measures for small businesses, the second aimed at helping migrant workers and the third aimed at Agriculture, Farmers and Workers and the Fourth aimed at Structural Reforms. Key Highlights: Today's steps will focus on these seven areas: MGNREGA, Health and Education Businesses and Covid Decriminalization of Company's Act Ease of doing business Public Sector Enterprises and related matters State govern..
The FM Smt Nirmala Sithraman announced the third tranche of the Economic Package. A press conference was done today that is on the 14th of May 2020. In her press conference on the 13th of May, the FM made some various changes in the Direct Tax and announced various relief measures for the MSMEs as well. In the second tranche, the FM announced measures for marginal farmers, Shishu Loans, small farmers, tribal employment, and measures related to housing. The third tranche was focused on agricultur..
Generally Prime Minister Shri Narendra Modi's speech is preceded by an element of fear in the minds of Mitron aka the citizens of India. But be it Lockdown 1.0 or 3.0, each address to the nation has been marked by rejoicing and zeal. After boosting the morale of India by conducting fly pasts to each corner of the nation alongside showering flowers, the real news came on 12th My, 2020, the 50th day of lockdown when Mr. Modi announced an economic package of around Rs. 20 lakh crores (inclu..
For MSME sector: 1. Collateral free loan of Rs 3 lakh crores for MSMEs. This will benefit 45 lakh units so that they can resume work and save jobs. 2. For stressed MSMEs, Subordinate debt provision of Rs 20,000 cr has been announced for 2 lakh MSMEs. It will benefit those which are NPAs or stressed MSMEs. 3. Rs 50,000 crore equity infusion through Mother fund-Daughter fund for MSMEs that are viable but need hand holding. A fund of funds with corpus of Rs 10,000 crore will be set up..
Relaxation in Statutory and Compliance matters Finance Minister Announced below relaxations in Statutory and Compliance matters on 13th May, 2021 to support fight against COVID-19 Direct Tax Related Relaxation TDS/TCS: Rs 50,000 crores liquidity through TDS/TCS rate reduction In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for t..
Key Highlights: Today's initiatives include a total of 9 measures: 3 related to Migrant workers 1 related to Street vendors Small traders Self-employed people 2 on Small farmers 1 on housing 1. Interest subvention for loans to farmers, normally given for prompt repayment, further extended to May 31, 2020 2. Rs. 3 crore marginal farmers had received loans worth Rs. 4 lakh crore at low rates. They were also given a moratorium by RBI 3. 25 lakh new Kisan Credit Car..
The FM Smt Nirmala Sithraman did a press conference today that is on the 14th of May 2020 to further give the details of the Economic Package. In her press conference yesterday the FM made some various changes in the Direct Tax and announced various relief measures for the MSMEs as well. The second tranche of the Economic Package focuses on 9 measures: 1. Three measures related to Migrant Workers (i) The government will give free food grain supply to migrants for 2 months. A total..
36 key points OF FM Sitharaman Press Conference on 'Mission Atmanirbhar Bharat' held on 13 May 2020- Easier loans for MSMEs; income tax return deadline extended; lifeline for discoms India is in the 50th day of its nationwide lockdown imposed in the month of March by Prime Minister Narendra Modi to battle Covid-19 spread in India. PM Modi addressed the nation on Covid-19 crisis and the ongoing lockdown situation, five days before the termination date of Lockdown 3.0. PM Modi announced..
Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against COVID-19 Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs Rs 20,000 crore Subordinate Debt for Stressed MSMEs Rs 50,000 crore equity infusion through MSME Fund of Funds New Definition of MSME and other Measures for MSME No Global tenders for Government tenders of uptoRs 200 crore Extending the Em..
The Finance Minister, Smt. Nirmala Sitharaman announced an Economic Package today that is the 13th of May 2020 at 4:00 PM via a press conference. The Economic Package has been announced to fight the COVID-19 crisis. The Hon'ble PM while addressing the nation on the 12th of May made an announcement regarding the Economic Package worth Rs 20 lacs crore which is equivalent to 10% of India's GDP. Hon'ble FM started her speech saying, "The focus of the Economic Package..