The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Nation

FM details the Economic Package, Here are the Key Points

by TLN Team May 13, 2020May 14, 2020
written by TLN Team May 13, 2020May 14, 2020
FM details the Economic Package, Here are the Key Points

Finance Minister Nirmala Sitharaman addressed the nation today at 4 pm to provide a detailed report on the distribution of Rs 20 lakh crore economic package which was announced by Prime Minister Narendra Modi on Tuesday evening to boost the economy and help the citizens.

 

This package was made after a brief discussion with various sectors of the society for a growth and make the very self-reliant India said FM Nirmala Sitharaman. Atmanirbhar Bharat Abhiyan intention is to make local brands to reach a global recognition. This Abhiyan will be effective in land, labour, liquidity and laws.
Beginning today, over the next few days we will come before you (media) with team to put forth PM’s vision: Finance Minister Nirmala Sitharaman.
FM announced Rs 3 lakh crores collateral-free automatic loans for businesses, including SMEs. Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turn-over are eligible.

Distribution of Economic package of Rs 20 lakh crore–
– Equity support to stressed MSMEs Government will facilitate the provision of Rs. 20,000 crore as subordinate debt will benefit 2 lakh MSMEs.
– Affected MSMEs will get loans without any guaranty
– Under the revised definition of MSMEs if your investment is of Rs 1cr and turnover is up to 5 crore then you will be in a category of micro industry. Under small industry company which will have Rs 10 crore investment and turnover of Rs 50 cr and Medium industry who had Rs 20 crore investment and 100 crore turnover.
– Next 45 days all MSMEs will receive the amount

-Under Pradhan Mantri Garib Kalyan Package (PMGKP), payment of 12% of employer and 12% employee contributions was made into EPF accounts of eligible establishments
– The statuary PF contribution by employer reduced from 12% to 10% for next 3 month.

-CPSEs and State PSUs will however continue to contribute 12% as employer contribution

– Rs 30,000 crore liquidity scheme for NBFC, Micro finance companies, Housing finance companies.
– Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs
– Rs 90,000 crore liquidity for Power Distribution companies (DISCOMS)
– Contractors, all Central agencies to provide an extension of up to 6 months without cost to contractor on completion of work covering construction and goods and services contracts
– If any project was registered on or after March 25 can suo-moto the time bound up to six month as COVID-19 has affected the various real-estate projects
– TDS, TCS rate for non-salaried payment for the financial year of 20-21 is now reduced by 25% till March 31 2021, which will benefit of Rs 50,000 crore
– All pending refund to charitable trust, small partnerships and many other shall be issued immediately
– Due date for Income Tax returns for the year 2019-2020 now being extended from 31st July and 31 Oct to 30 November 2020.

The special economic package will have an emphasis on land, labour, liquidity and laws, and will be for “our labourers, farmers, honest taxpayers, MSMEs and cottage industry”, Modi said.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Irresponsible citizen puts 51 others in quarantine over suspicion of COVID -19
next post
This year the summer will be different, an uncommon one…

You may also like

Govt to impose ‘Green Tax’ on older vehicles

January 26, 2021

Award of Gallantry Medals / Service Medals on...

January 26, 2021

ADDRESS BY THE HON’BLE PRESIDENT OF INDIA SHRI...

January 25, 2021

Do not share personal details to fraudsters calling...

January 25, 2021

Bullet Train Project: 7 companies interested in constructing...

January 25, 2021

New National Education Policy is the ‘vision document’...

January 25, 2021

Yerwada Jail to be opened for tourism from...

January 23, 2021

Films Division to stream films on Netaji Subhas...

January 22, 2021

Bhajan Samrat Narendra Chanchal passes away

January 22, 2021

PM Modi, CMs likely to take COVID-19 vaccination...

January 21, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • Do not eat undercooked meat, says FSSAI as it issues guidlines amid bird flu scare

    January 24, 2021
  • Now get 10 % discount on ticket booking if berth available after chart preparation

    January 22, 2021
  • State govt forms committee to assess human-leopard conflict

    January 22, 2021
  • 5 people dead in massive fire at serum institute, Pune

    January 21, 2021
  • This Pune’s ‘Bullet Thali’ challenge is grabbing attention of foodies and motobike lovers

    January 21, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

May 2020
M T W T F S S
« Apr   Jun »
 123
45678910
11121314151617
18192021222324
25262728293031

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.