Union Finance Minister Nirmala Sitharaman will address a press conference in New Delhi at 4 pm on Wednesday.
FM Nirmala Sitharaman's Press Conference on special Covid package begins
PM Modi laid out a comprehensive vision: Nirmala Sitharaman
PM Narendra Modi laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society, says FM Nirmala Sitharaman
Essentially this is to spurt growth and to build a very self reliant India: Nirmala Sitharaman
Essentially this is to spurt growth and to build a very self reliant India and that is why this whole initiative is called Atmanirbhar Bharat Abhiyan: Finance Minister Nirmala Sitharaman
Five pillars of 'Atmanirbhar Bharat- economy, infrastructure, system, demography and demand: Finance Minister Nirmala Sitharaman
Atmanirbhar (self-reliant) India does not mean India is to be an isolationist country: Finance Minister Nirmala Sitharaman
FM Nirmala Sitharaman says Rs 20 lakh crore package to spur growth, build self-reliant India
In case you missed her opening, Finance Minister Nirmala Sitharaman started her press conference asking reporters whether they could hear her with her mask. She is now addressing the press without a mask. Also, she tells the press they will hear the phrase ‘Atmanirbhar Bharat Abhiyan’ quite often in the press conference, as the economic measures is to ensure India becomes self-reliant. Oh, and, she also told us the translation of the mission's name in other regional languages to help non-Hindu speakers.
To build the 'Atma Nirbhar India', India has DBT, Ujjawala Yojana, AWAS Yojana, Swaccha Bharat Abhiyan and Ayushman Bharat. Several schemes which benefitted poor were reform driven: Sitharaman
Beginnning today, I shall come to put out details of PM's vision: Sitharaman
Beginnning today, I shall come with this entire team before you to put out details of PM's vision. We will come with tranches beginning today. We have responsibility towards poor, needy, migrant and divyang (differently-abled), says Sitharaman
Today's tranche has 14 different measures: Sitharaman
Today's tranche has 14 different measures. Six of these are for MSMEs, 2 are for EPF, 2 for NBFCs and MFIs, 1 to discoms, 1 to contractors, 1 real estate, 3 tax measures: Sitharaman
We shall not forget that we do have a responsibility towards the poor: Sitharaman
We shall not forget that we do have a responsibility towards the poor, needy, the migrants workers, divyang and the aged of the country : Finance Minister Nirmala Sitharaman
Collateral free automatic loans to MSMEs worth Rs 3 lakh cr: Nirmala Sitharaman
Collateral free automatic loans to MSMEs worth Rs3 Lakh Crore. These have 4 year tenor, valid up to October 31st, 2020. In a major initiative, we announce Rs 3 lakh crores collateral-free automatic loans for businesses, including SMEs. Borrowers with up Rs 25Cr outstanding and Rs100 Cr turnover are eligible, said Finance Minister Nirmala Sitharaman.
Government to provide stressed MSMEs with equity support: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman during the press conference said government to provide stressed MSMEs with equity support; Government will facilitate the provision of Rs. 20,000 Crores as subordinate debt.
This will enable 45 lakh MSME units to resume business activity and also safeguard jobs, said FM Sitharaman
Rs 50,000 cr. equity infusion for MSMEs through Fund of Funds: Nirmala Sitharaman
Rs 50,000 cr. equity infusion for MSMEs through Fund of Funds; to be operated through a Mother Fund and few daughter funds; this will help to expand MSME size as well as capacity: Finance Minister Nirmala Sitharaman
Definition of MSMEs has been revised: Nirmala Sitharaman
Definition of MSMEs has been revised, investment limit to be revised upwards, additional criteria of turnover also being introduced: Finance Minister Nirmala Sitharaman
Global tenders will be disallowed for tenders upto Rs 200 cr to benefit MSMEs
Global tenders to be disallowed in Government procurement up to Rs 200 crores. This will make self-reliant India, will also then be able to serve 'Make in India', said Finance Minister Nirmala Sitharaman.
Govt and Central Public Sector Enterprises will honour every MSME receivable in the next 45 days: Nirmala Sitharaman
Govt of India and Central Public Sector Enterprises will honour every MSME receivable in the next 45 days, says Finance Minister Nirmala Sitharaman.
Indian MSMEs and other companies have often faced unfair competition from foreign companies, says Finance Minister Nirmala Sitharaman
"Indian MSMEs and other companies have often faced unfair competition from foreign companies. Therefore, global tenders will be disallowed in Govt procurement tenders upto Rs 200 crore. Necessary amendments of General Financial Rules will be effected. This will be a step towards self reliant India and support Make in India. This will also help MSMEs to increase their businesses," says Finance Minister Nirmala Sitharaman.
Govt decides to continue EPF support for business, workers for 3 more months providing liquidity relief of Rs 2,500 crores: FM Nirmala Sitharaman
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 crores, says FM Nirmala Sitharaman.
Govt to give relief to employers in payment of PF, EPF contribution is being reduced for Businesses & Workers for 3 months
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.
Government launches a Rs 30,000 crore Special Liquidity Scheme for NBFCs/HFCs/MFIs
Government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.
Govt announces Rs. 90,000 Crore Liquidity Injection for DISCOMs
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.
Government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs
In a major relief to contractors, all Central agencies to provide an extension of up to 6 months, without cost to contractor
In a major relief to contractors, all Central agencies to provide an extension of up to 6 months, without cost to contractor, to obligations like completion of work covering construction and goods and services contracts: Finance Minister Nirmala Sitharaman
Ministry of Housing to advise States/UTs to extend registration & completion date for all registered projects
Ministry of Housing to advise States/UTs & their Regulatory Authorities to extend registration & completion date suo-moto by 6 months for all registered projects expiring on or after 25 March,2020 without individual applications:FM
DS/TCS rates to be reduced by 25% till March 31, 2021: FM
Govt to infuse Rs 50,000 crores liquidity by reducing rates of TDS
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.
Due date for Income Tax returns for the year 2019-2020 extended from 31st July and 31 Oct to 30 November 2020
Due date for Income Tax returns for the year 2019-2020 now being extended from 31st July and 31 Oct to 30 November 2020: FM Sitharaman
