Thread by @PRSLegislative

In #LokSabha, FM outlined a 13-point plan to improve public and private investments:

1. The amendment to IBC helped fast tracking the insolvency resolution process

2. Rs.103 lakh cr worth of projects have been announced in the National Infrastructure Pipeline

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3. Reduced corporate tax rate for domestic companies to 22% without any exemptions; Minimum Alternative Tax removed

4. Infusion of Rs. 60,314 crore till November 2019 into public sector banks

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5. Strong banks are an imperative to achieve the $5 trillion economy. Efficiency gains from the consolidation of public banks exercise is expected to bring down the cost of lending

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6. Several RBI initiatives to help - CRR has been waived for auto and housing sectors, one-time restructuring of loans for MSMEs, long-term repo rates up to $1 trillion in 1 to 3 years windows to be introduced and repo rate has remained unchanged at 5.15%

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7. The govt. proposes to set up an organisation for Credit Enhancement for Infrastructural and Housing Projects

8. To boost the real estate sector, special window approved to provide funds for people’s projects which remain stalled.

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9. Under PMAY, 1.95 crore houses will be provided in rural areas till 2022. External Commercial Borrowings guidelines have been relaxed for financing PMAY. Interest on house building advance will be lowered.

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10. On auto, one-time registration fees deferred to June 2020, BS IV vehicles purchased till March 2020 to remain valid for their entire registration period, additional 15% depreciation on all vehicles increased to 30% until March 2020

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11. Stand up India Scheme, which aims to facilitate bank loans for SCs, STs and women, extended till 2025.

12. Put in place an investor-friendly FDI policy which is expected to boost inflows, thanks to the automatic routes.

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13. Income tax provisions regarding the Angel Tax will not apply to start-ups registered under DPIIT.

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