New Delhi: Union Finance Minister Nirmala Sitharaman addressed a press conference this evening and broadly gave how the PM’s special economic package will be distributed across various sectors, so as to enable them in making India ‘self-reliant’.
Finance Minister #NirmalaSitharaman speech Live: Where will the Rs #20lakhcrores be used? https://t.co/JR68WRFmXl
— Newsroom Post (@NewsroomPostCom) May 13, 2020
Sitharaman’s press conference comes a day after Prime Minister Narendra Modi announced a Rs 20 lakh crore fiscal stimulus to deal with COVID-19 situation in the country.
The package is the second largest in Asia after Japan.
Highlights of Nirmala Sitharaman’s announcement:
In order to provide more take home salary for employees and to give relief to employers in payment of PF, EPF contribution is being reduced for Businesses & Workers for 3 months, amounting to a liquidity support of Rs 6750 crores. #AatmaNirbharBharatAbhiyan pic.twitter.com/VSysfvk4KU
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
To ease financial stress as businesses get back to work, Government decides to continue EPF Support for Business & Workers for 3 more months providing a liquidity relief of Rs 2,500 crore. #AatmaNirbharBharatAbhiyan pic.twitter.com/02uw5GO1TE
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
Unfair competetion from foreign companies to become a thing of the past; Global tenders to be disallowed in Government procurement upto Rs 200 crores#AatmaNirbharBharatAbhiyan #atmanirbharbharat pic.twitter.com/voj3hstdOR
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
Government launches a Rs 30,000 crore Special Liquidity Scheme for NBFCs/HFCs/MFIs pic.twitter.com/vPfYGP7E7I
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
Government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs. #AatmaNirbharBharatAbhiyan pic.twitter.com/ORLOV3bIAi
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
To give a fillip to DISCOMs with plummeting revenue and facing an unprecedented cash flow problem, Government announces Rs. 90,000 Crore Liquidity Injection for DISCOMs. #AatmaNirbharBharatAbhiyan pic.twitter.com/EVqz8nsm4p
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
.@MoHUA_India will advise States/UTs and their Regulatory Authorities to extend the registration and completion date suo-moto by 6 months for all registered projects expiring on or after 25th March, 2020 without individual applications pic.twitter.com/SBChFjXVGv
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
Government to infuse Rs 50,000 crores liquidity by reducing rates of TDS, for non-salaried specified payments made to residents, and rates of Tax Collection at Source for specified receipts, by 25% of the existing rates. #AatmaNirbharBharatAbhiyan pic.twitter.com/LR1jhG9ovY
— PIB India #StayHome #StaySafe (@PIB_India) May 13, 2020
In his speech, PM Modi had said that the economic package is for “the country’s workers, farmers, who are working hard day and night for the countrymen in every season. This economic package is for the middle class of our country, who pays tax honestly and contributes to the development of the country.”
