Nirmala’s big announcement: Twitter praises relief measures for MSMEs, Income Tax Payers, reduced TDS

2 labour though is a state subject. One can only hope other states follow UP’s lead. The suffocating labour restrictions will severely hamper economic recovery merely to serve the interests of 5% of the workforce.

— Abhijit Iyer-Mitra (@Iyervval) May 13, 2020

What the hell. All my life my MSME friends kept on crying loans nahin milte. Today they plugged that hole and now they say it ain't a stimulus. I mean there is no pleasing some people. This is why I can't respect some here. Boss be consistent. Otherwise I can't respect you.

— कुशल मेहरा (@kushal_mehra) May 13, 2020

Also the instruction to release all TDS refunds is also amazing. Boss you guys are morons who don't know how a business is run if you don't realise what the government has done. They've literally heard every single input & delivered it to the dot for the MSME sector.

— कुशल मेहरा (@kushal_mehra) May 13, 2020

25% lower TDS requirement for the next year till March 2021.

This is across the board. Consultants, companies etc. But not for salaried people. Should even apply for interest on FD (going by current print)

Excellent for those who need to claim refunds.

— Deepak Shenoy (@deepakshenoy) May 13, 2020

Absolutely nobody from the MSME sector will have anything to complain about from today's announcement.

The decisions are very well thought out. Balanced. Rational. Practical. Much needed.

I give them 10/10 pic.twitter.com/vCr1tZsZND

— Ashu (@muglikar_) May 13, 2020

Bhai unfair. This is first of the many announcements. First was MSME.

The date extensions and TDS reduction was for liquidity alone.

I am sure next will be for salaried class. https://t.co/1q5psX6GHU

— Ashu (@muglikar_) May 13, 2020

PF contribution reduced to 10% from existing 12%. Means, both employees & employers will now have over Rs. 6,000 crore liquidity.
But how can that be a part of Rs 20 lakh crore? Anyone?
It’s like receiving my own money rather than getting saved!!

— Shantanu N Sharma (@shantanunandan2) May 13, 2020

Calling moderate protectionism to promote Make In India- while having liberal FDI, free domestic market, floating currency, no permissions for capex, tax cuts, reforms- as Indira’s license raj is the same as saying being vegetarian is Nazi (given Hitler was veg in his later life)

— Harsh मधुसूदन (@harshmadhusudan) May 13, 2020

Analysts are now confirming these numbers. Package size roughly Rs 6 lakh crore. 10 per cent of that is outlay from government. Rest are 'below-the-line' liquidity measures. https://t.co/SHxugG0zsY

— Arup Roychoudhury (@aruproytweets) May 13, 2020

As far as Science and Technology is concerned, this is draconian and monumentally regressive.

Most hi-tech equipments used in the domain of the sciences, esp Biology, are not made in India. How will Government research centres and labs function? MADNESS. https://t.co/brNZYHU2gp

— Anand Ranganathan (@ARanganathan72) May 13, 2020

₹20Lac Cr Package announced by FM is a “Loans Marketing Brochure” rather than a “Relief Oriented Rescue Plan”; Focus of package is “debt creation” & not “demand creation”-clearing of receivables & tax refunds is not stimulus-Govt misleading by Repackaging loans & dues as Relief

— Jaiveer Shergill (@JaiveerShergill) May 13, 2020