Thread by @PIBMumbai

A collateral-free automatic loan is being given to MSMEs, with a facility of ₹ 3 lakh crores

This will enable 45 lakh MSME units to resume business activity and also safeguard jobs

- FM #NirmalaSitharaman

#AatmaNirbharBharatAbhiyan #EconomicPackage #AatmanirbharBharat

The second measure is for stressed MSMEs, who will be provided 20,000 crore via subordinate debt, will benefit about 2 lakh MSMEs

- FM #NirmalaSitharaman #AatmaNirbharBharatAbhiyan #EconomicPackage

3️⃣ For MSMEs needing handholding, A ₹50,000 crore #FundofFunds through mother fund - daughter fund framework is being created, to expand their capacity and to get listed on markets which they choose

- FM #NirmalaSitharaman #AatmaNirbharBharatAbhiyan

4️⃣ FM #NirmalaSitharaman announces #NewMSMEDefinition, in favour of MSMEs, to address MSMEs' fear of losing benefits due to outgrowing the MSME definition

Now, MSMEs need not worry about growing in size, they can continue to receive MSME benefits

#AatmaNirbharBharatAbhiyan

✅Investment limit for MSME increased
✅Additional criteria for turnover size
✅Distinction between manufacturing and service MSME removed!

- FM #NirmalaSitharaman, announcing #NewMSMEDefinition

LIVE: #AatmaNirbharBharatAbhiyan

5️⃣Global tenders will be disallowed in government procurement for tenders up to ₹ 200 crore. This will address unfair competition being faced by MSMEs, and enable them to participate actively in government purchases.

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

6️⃣ Seamless e-market linkages across the board will be provided to MSMEs, considering their inability to participate in trade fairs due to #COVID19.

All pending payments to MSMEs, from central govt. bodies & PSUs to be done within next 45 days

- FM #AtmaNirbharBharatAbhiyan

7️⃣ A liquidity relief of ₹2,500 crore EPF support is being given to all EPF establishments, EPF contribution will be paid by Govt. of India for another 3 months, this will benefit more than 72 lakh employees

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

8️⃣ To provide more take home salary for employees & give relief to employers in PF payment, statutory PF contribution for those not covered earlier is being reduced. Reduction is not for Central Govt . But govt. employees too will get this benefit. - FM #AtmaNirbharBharatAbhiyan

9️⃣ ₹ 30,000 crore Special Liquidity Scheme for struggling NBFCs

Investments in both primary and secondary markets, to buy even investment-quality debt papers

Will ease flow of credit

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan #EconomicPackage #AatmanirbharBharat

1️⃣0️⃣ ₹45,000 crore liquidity infusion, first 20% loss will be borne by govt. of India, even unrated papers will be eligible for investment, enabling NBFCs to reach out even to MSMEs in far-flung areas

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan #AatmanirbharBharat

1️⃣1️⃣ ₹90,000 crore emergency liquidity support to DISCOMs, to address serious crisis faced by them, this will be against receivables, will enable DISCOMs to pay generation companies, will eventually pass on benefits to customers - FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

1️⃣2️⃣ All central govt. agencies will give up to 6-month extension without any cost to contractor, covering construction and goods/services contracts, they can take up to additional 6 months to comply with contract conditions - FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

1️⃣3️⃣@MoHUA_India will issue advisory to states and UTs enabling invocation of force majeure / Act of God measure during #COVID19 period, for all registered real estate projects expiring on or after 25 Mar 2020. Bringing flexibility in contract enforcement
- FM #NirmalaSitharaman

1️⃣4️⃣TDS and TCS rate reduced by 25% with effect from tomorrow till March 31, 2021; this will release nearly ₹50,000 crore into the hands of the people, rather than coming to the government in the form of taxation

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

1️⃣5️⃣

All pending refunds to charitable trusts and non-corporate businesses and professions will be issued immediately

Due date of all income tax returns being extended to 30 Nov 2020, tax audits being extended to 31 Oct 2020

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

1️⃣6️⃣

Date of tax assessments getting barred being extended to Dec 31, 2020, those getting barred on Mar 31, 2021 being extended to Sep 30, 2021

Entire #VivadSeVishwas scheme being extended to Dec 31, 2020

- FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan #AatmanirbharBharat

How will the government finance the #20lakhcrores stimulus?

Slightly altered borrowing schedule will be one way, complete picture will be given after entire #EconomicPackage is announced

says FM #NirmalaSitharaman, replying to a media Query #AtmaNirbharBharatAbhiyan

Banks are not shying away from disbursing loans, but many customers are saying that they will avail loans after end of lockdown, this is one reason why sanctioned loans are not being released, explains FM #NirmalaSitharaman #AtmaNirbharBharatAbhiyan

In the 1st press conference today, FM @nsitharaman has announced 1️⃣6️⃣ measures, a part of #20lakhcrores #AatmaNirbharBharatAbhiyan Package

The measures announced today benefit MSMEs, NBFCs, real estate, discoms, EPF firms, 3 are direct tax measures
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