#AatmaNirbharBharat Package progress so far:
To boost @makeinindia and help our MSMEs, @FinMinIndia has amended present Rule 161(iv) of General Financial Rules, 2017 & GFR Rules relating to Global Tenders. Now, no Global Tender Enquiry shall be invited for tenders up to ₹200cr.
To boost @makeinindia and help our MSMEs, @FinMinIndia has amended present Rule 161(iv) of General Financial Rules, 2017 & GFR Rules relating to Global Tenders. Now, no Global Tender Enquiry shall be invited for tenders up to ₹200cr.
₹3 lakh crore collateral-free automatic loans for Business including MSMEs:
• Emergency Credit Line Guarantee Scheme (ECLGS) Fund registered on 26 July 2020.
• Noticeable progress in identifying units, sanctioning as well as disbursing of loans to MSMEs.
#AtmaNirbharBharat
• Emergency Credit Line Guarantee Scheme (ECLGS) Fund registered on 26 July 2020.
• Noticeable progress in identifying units, sanctioning as well as disbursing of loans to MSMEs.
#AtmaNirbharBharat
₹50,000 crore liquidity through TDS/TCS Rate Reduction
• Reduction in TDS rates announced on 13 May 2020
• Applicable for specified payments to residents and specified TCS rates by 25% for transactions made from 14th May 2020 to 31st March 2021
#AtmaNirbharBharatPackage
• Reduction in TDS rates announced on 13 May 2020
• Applicable for specified payments to residents and specified TCS rates by 25% for transactions made from 14th May 2020 to 31st March 2021
#AtmaNirbharBharatPackage
Other Direct Tax Measures
• CBDT issued refunds in more than 20.44 lakh cases amounting to more than ₹62,361 crore
• ‘Vivad se Vishwas’ scheme extended to 31st Dec 2020
• Due date for income tax return for FY19-20 extended to 30th Nov 2020
#AtmaNirbharBharat
• CBDT issued refunds in more than 20.44 lakh cases amounting to more than ₹62,361 crore
• ‘Vivad se Vishwas’ scheme extended to 31st Dec 2020
• Due date for income tax return for FY19-20 extended to 30th Nov 2020
#AtmaNirbharBharat
Further enhancement of Ease of Doing business through IBC related measures
• Threshold of default under Sec 4 of IBC 2016, raised to ₹1 cr from existing of ₹1 lakh
• Special insolvency resolution under section 240A of the Code, to provide relief to the MSMEs being finalised
• Threshold of default under Sec 4 of IBC 2016, raised to ₹1 cr from existing of ₹1 lakh
• Special insolvency resolution under section 240A of the Code, to provide relief to the MSMEs being finalised
₹30,000 crore Special Liquidity Scheme for NBFCs/HFCs/MFIs
• RBI issued a circular to NBFCs and HFCs on 1st July, 2020
• SBICAP has received 24 applications requesting about ₹9,875 crore of financing, 1st application approved and the remaining are also being considered.
• RBI issued a circular to NBFCs and HFCs on 1st July, 2020
• SBICAP has received 24 applications requesting about ₹9,875 crore of financing, 1st application approved and the remaining are also being considered.
₹30,000 crores Additional Emergency Working Capital Funding for farmers through NABARD
• This will benefit 3 crore farmers, consisting mostly of small and marginal farmers
• ₹24,876.87 cr out of ₹30,000 cr has been disbursed as on 6 July 2020 to support Kharif Sowing
• This will benefit 3 crore farmers, consisting mostly of small and marginal farmers
• ₹24,876.87 cr out of ₹30,000 cr has been disbursed as on 6 July 2020 to support Kharif Sowing
Relief to Contractors
Instructions issued for extension of contract period for not less than 3 months and not more than 6 months without imposition of any cost or penalty on the contractor/concessionaire.
#AatmanirbharBharatPackage
Instructions issued for extension of contract period for not less than 3 months and not more than 6 months without imposition of any cost or penalty on the contractor/concessionaire.
#AatmanirbharBharatPackage
Supporting State Governments
• Increase borrowing limits of States from 3% to 5%, for 2020-21
• States get extra resources of ₹4.28 lakh crore.
• Increase borrowing limits of States from 3% to 5%, for 2020-21
• States get extra resources of ₹4.28 lakh crore.
