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Thread: 15 Measures announced by the Finance Minister Today.
6 measures for MSME
3 tax related measures
2 for Employees
2 related to NBFC
1 for discoms
1 for contractors
1 for real estate industry

#20lakhcrores #NirmalaSitharaman
1. Rs 3 lakh crores loan for 45 lakh MSMEs without collateral. 12 month moratorium, 4 year term loan, 100% credit guaranteed on principal and interest available till October 2020.
2. 20,000 crore infusion just for for stressed MSMEs. Around 2 lakh MSMEs to benefit. Just stressed MSMEs with NPA are eligible for this.

#NirmalaSitharaman #20lakhcrores
3. Fund of funds worth 50,000 crore as equity into the MSMEs.
Changes in criteria regarding defining a Micro Company. Investment upto 1Crore, Turnover upto 5 Crore is a Micro Company.
4. Definition of MSME is being changed in favour of the MSMEs.
5. Global tenders will be disallowed in govt procurement upto Rs 200 crore.
6. E-market linkages to be provided across the board to help make up for lack of trade fairs within the next 45 days. All receivables of MSMEs will be cleared by the GoI and CPSEs
7. On EPF. Liquidity relief to be given for all EPF established govt support towards EPF contribution extended by another 3 months - until August. Relief of Rs 2,500 crores to be provided to benefit about 70 lakh employees.
8. Again on EPF. More take home salary. Government to take up PF for firms with 100 staff, earning less than Rs 15,000. Statutory PF contribution reduced from 12% to 10%.
9. On NBFCs, HFC, MFI. 30,000 cr liquidity scheme investment in primary and secondary in investment grade debt paper of these three. The debt papers will be fully guaranteed by GoI.
10. Another one on NBFCs. 45,000 crore through partial credit guarantee scheme. Existing scheme expanded. First 20% loss will be borne by the government.
11. Discoms : To solve the cash flow problems a emergency liquidity infusion of 90,000 crore against their receivables. PFC and REC to infuse money, this will in turn be with a guarantee by government.
12. On Contractors: All GoI agencies, railways, roads, CPWDs, will give 6 month extension to contractors, to cover construction, goods and services contracts. Also can extend to another 6 months.
13. On Real Estate
Builders to get more time to complete projects. States advised so that RERA can treat Covid period where you can evoke force mature. Registration and completion date should be extended by 6 months for all registered projects expiring 25 march 2020.
14. Big one on taxation. Starting May 14 till 31 March 2021, Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25% of the existing rates.
15. Last few on Direct Tax.
Due date of all return for FY 19-20 extended to 30th November 2020. Tax audit extended from 30th September, 2020 to 31st October,2020.
Some other Important announcements other than these 15
- Period of Vivad se Vishwas Scheme for making payment without additional amount extended to year end.
- All pending refunds to charitable trusts and noncorporate businesses & professions shall be issued immediately.
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