This package is to spur growth & build a self-reliant India: FM Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman announced today that in order to enumerate the characteristics of the Rs 20 lakh crore economic package announced by the Prime Minister, special attention will be given to these sectors in this package.

TDS has been reduced:

Government reduces TDS rates by 25 per cent from tomorrow, will apply to all payments, rents, brokerage or dividend. TDS/TCS rates to be reduced by 25% till March 31, 2021.

Special Liquidity Scheme:

Government launches a Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies. The government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.

Govt to pay Rs 2,500 crore as employee, employer contribution to EPF; scheme extended till August, says Sitharaman. Rs 20,000 cr subordinate debt for stressed MSMEs to be provided; 2 lakh MSMEs to benefit.

Govt of India and Central Public Sector Enterprises will honour every MSME receivable in the next 45 days: Finance Minister Nirmala Sitharaman

MSMEs will be given an unsecured loan of Rs 3 lakh crore:

Earlier, up to 25 lakhs were covered under MSMEs, now even investments up to one crore will be considered as MSMEs.

Micro units will remain in the definition even if the turnover is up to 50 million. Now, whether in production or in the service sector, you will benefit. You will remain in MSME only.

MSMEs will be given an unsecured loan of Rs 3 lakh crore. 100% guarantee will be given. SSME is relieved from paying EMI for one year. Its benefit will reach 45 lakh MSMEs.

18 thousand crores were given to tax payers:

Sita Raman said that 18 thousand crores were given to tax payers through special drives. 14 lakh tax payers also benefited from this. This has brought money to the people.

Sitharaman said that the Prime Minister has set his vision before the country. I am making it clear to her. He said that the Prime Minister has also been involved in long discussions on self-reliant India. This discussion has gone through many rounds.

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: Finance Minister Nirmala Sitharaman

PM Modi's ideology is helping India:

PM Modi's ideology is helping India to become self-reliant. Airport privatization, power reforms, solar targets, cleaning up of the coal mine sector, etc are some of the steps taken by this Govt.

Five pillars of 'Atmanirbhar Bharat- economy, infrastructure, system, demography and demand, said Finance Minsiter Nirmala Sitharaman.

Through agriculture schemes, money has been directly delivered to the farmers in their accounts. Steps were taken for banks in which they were made accessible to the public by easing the working process.

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