Thread by @tweetingsourav

Thread on @nsitharaman declarations as follows #NirmalaSitharaman

@nsitharaman 1) CSR violations shall no longer be a criminal offence effective today.

@nsitharaman 2) All Income Tax notices, summons to be done from centralised computerised system. All existing notices to be reviewed before October 1. Form October 1 all I-T notices till date shall stand null and void.

@nsitharaman 3) Withdrawal of all enhanced surcharge on capital gains.

@nsitharaman 4) Cancellation of Angel Tax for Startups.

Creation of a tax related helpdesk for startups.

@nsitharaman 5) Immediate release of Rs 700000000000/- of the larger PSU Bank Recapitalisation Plan.

@nsitharaman 6) Rate cuts for all borrowers through MLCR.

@nsitharaman 7) Immediate reduction of EMI for housing loans, car loans and other retail banking products.

@nsitharaman 8) For all mortgage borrowers, release of all loan documents within a maximum of 15 days of closure of loan.

@nsitharaman 9) Online tracking of all loan application to PSU banks.

@nsitharaman 10) Transparent One Time Settlement Policy.

@nsitharaman 11) All PSU Bank branches to have an Internal Advisory Committee to encourage risk taking and risk assessment by bankers. They will classify cases as vigilance / non-vigilance under CVC guideline on spot. And that will be final.

@nsitharaman 12) Additional liquidity support to all NBFCs/HFCs.

@nsitharaman 13) Easier, fasttrack onboarding for NBFC customers.

@nsitharaman 14) Coordination between PSU banks and NBFCs to provide liquidity to MSMEs and self help groups.

@nsitharaman 15) All pending GST refunds to be paid within 30 days.

H-U-G-E

@nsitharaman 16) Upgradation of TReDS system for bill discounting of MSMEs.

@nsitharaman 17) Amendment to MSME Act to enact a single definition of MSME in law.

@nsitharaman 18) Sinha Committee recommendations on ease of credit, marketing, delayed payments etc. to be implemented within 30 days.

@nsitharaman 19) RBI to make it more conductive for investors and bond issuers as well as facilitate increased trading for price discovery.
Government has amended the companies share rule 2014 to remove requirement for creation of a DDR of outstanding debenture in respected listed companies.

@nsitharaman 20) The Depository Receipt Scheme 2014 to be oppernanalised soon by SEBI to give Indian Companies access to global capital.

@nsitharaman 21) Amendments to PMLA rules to improve market access for domestic retail investors.

@nsitharaman 22) Simplified KYC for foreign investors including FPIs.

@nsitharaman 23) Finance Ministry to take initiative to bring offshore rupee market to domestic stock exchange.

@nsitharaman 24) Delayed payments by GoI/CPSU to be reviewed by Cabinet Secretariat.

@nsitharaman 25) Decision to pay 75% of the arbitration award.

@nsitharaman 26) Rs 100 Lakh Crores to be invested on infrastructure.

🙏🙏 @nitin_gadkari 🙏🙏

@nsitharaman @nitin_gadkari 27) All BS IV vehicles purchased till end of this Financial year to remain operational for the entire period of registration.

@nsitharaman @nitin_gadkari 28) Revision of one time registration fee diffred till June 2020.

@nsitharaman @nitin_gadkari 29) Higher depreciation for all vehicles.

@nsitharaman @nitin_gadkari 30) Government to make heavy investment in setting up infrastructure for ancillaries and batteries for Electric Vehicles for export.

@nsitharaman @nitin_gadkari 31) Govt to lift ban on purchase of vehicles for itself. Also Govt will consider a scrappage policy.

This is basically a new budget in all but in name. Necessary desperation. Thread FiNiShEd.