Various economic indicators which show the presence of a strong pitch for recovery in the economy.

Announcements by @FinMinIndia underway.

| @nsitharaman @ianuragthakur |
. @MoodysInvSvc has reassessed India's 2020 GDP growth at -8.9% (as against -9.6% earlier)

For 2021, they have revised estimate to 8.6% (from 8.1% earlier)

This shows that a positive correction is happening as regards our economic prospects.
28 states have been brought under #OneNationOneRationCard scheme, 68.6 crore beneficiaries can hence lift food grains from any of these 28 states/UTs

Around 14 lakh loans have been sanctioned under #PMSVANidhi scheme for street vendors.
₹ 25,000 crore has been distributed to help farmers prepare for Rabi sowing, this is over and above the budget allocation
Under Emergency Credit Liquidity Guarantee Scheme, a total amount of ₹2.05 lakh crore has been sanctioned to 61 lakh borrowers, out of which ₹ 1.52 lakh crore has been disbursed.
Utsav Cards being issued by @TheOfficialSBI for festival advance

Many employees availing LTC Voucher Scheme

Many steps being taken by @MORTHIndia and @DefenceMinIndia for utilizing ₹ 25,000 crore capital expenditure

Progress of #AatmaNirbharBharat 2.0

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More from @Anurag_Office

12 Nov
#AatmaNirbharBharat 3.0

#AatmaNirbharBharatRozgarYojana launched to incentivize job creation during #COVID19 recovery

EPFO registered establishments -if they take in new employees or those who lost jobs earlier - these employees will get some benefits

Effective Oct 1, 2020
Criteria for EPFO registered establishments to be eligible for benefits under #AatmaNirbharBharatRozgarYojana

If new employees of requisite number are recruited from Oct 1, 2020 to June 30, 2021, the establishments will be covered for next two years.
Central govt. will give subsidy by way of EPF contributions for two years in respect of new eligible employees

Subsidy will be credited upfront in Aadhaar-seeded EPFO accounts.
Read 16 tweets
17 Apr
“Amount equivalent to 3.2% of GDP was injected into the system by @RBI, during Feb 6 - Mar 27; since then surplus liquidity in banking system has considerably increased due to sustained government spending” @RBI

1/n
“The foreign exchange reserve level continues to be robust, amounting to $ 476.5 billion, equivalent to 11.8 months of imports” @RBI
“Three auctions of Targeted Long Term Repo Operations have been conducted by @RBI, another TLTRO is being conducted today. This has eased financial conditions considerably” @RBI
Read 14 tweets
24 Mar
Major Announcements by Finance Minister

For FY 2018-19, last date for IT return extended till June 30

Sabka Vishwas scheme for indirect tax extended till June 30

No interest would be levied till then
- GST: Last date for filing March, April, May 2020 returns and composition returns extended till June 30

- For companies with less than Rs. 5 crore turnover, no interest, late fee or penalty will be charged

- For the bigger companies, interest would be 9%
Debit card holders can withdraw cash from any bank's ATM without additional charges for the next 3 months

No minimum balance requirement fee

Bank charges reduced for digital trade transaction for all trade finance consumers
Read 8 tweets
20 Sep 19
IMPORTANT ANNOUNCEMENTS by FM

A domestic company can pay income tax at 22% if they dont seek any exemption or incentives.

Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies

Such companies also not required to pay Minimum Alternative Tax.
To provide relief to companies which continue to avail exemptions and incentives, rate of Minimum Alternate Tax has been reduced from existing 18.5% to 15%.
BOOST TO INVESTMENT IN MANUFACTURING

New Provision in IT Act

Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023.
Read 7 tweets

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