13 May 2020

Details Of Press Conference Of Finance Minister Nirmala Sitharaman

According to Nirmala sitharaman India can win any e competition given.  Even in lockdown farmers were given help and poor people got payment directly in their account.

India head deals with all the countries around the globe to export medicines and win the trust of other Nations.  

Prime Minister when India has to be self independent and local brands should get acknowledge in front of other countries of the world.

PPE kits, ventilators and other importanttechnologies is now done in India and now India is on a position to export these products also.  N95 mask are also made in India.

Anurag Thakur of Finance ministry says that India should be capable of making it self self independent in front of other countries of the world.  Bold reforms of the last 6 months have been given to the country where farmers were given payments and help directly into their accounts and meni new techniques for brought up in farming.

Prime Minister Modi has said that there will be around rupees 20 lakh crore package given to all the sectors of the industry including rupees one lakh crore to the auto sector,  Rs 25 thousand crore to aviation Sector, Rs 10 lakh Crore to tourism sector, Rs  5.5 lakh crore to retail sector,  300000 to m s m e.

According to finance minister the government does not want any person to sleep empty stomach.

Rs 79 Thousand crore of financial help help is given to the sector of the country in Ayushman project.

From today daily the details of all the help which union government has been give doing for the country will be shared.  and Finance Minister Nirmala sitharaman will be media sensing everyday and bring all the details of projection programs which union government has been doing for the country.

Reserve Bank of India will be bringing in liquidity in the country and that data will be shared in a few days. Rupees 18000 crore special drive for taxpayers will be given to the people. 14 lakh taxpayers will be benefited by this amount.

15 different steps of 6 MSME will be taken.  Two Steps will be for discounts in housing projects.  One step will be for real estate.  And and income tax claim will be refunded directly to the tax payers. 

25 crores will be given to those whose turnover is more than hundred crores with 100% credit guarantee loans will be provided on principal and interest.

MSME will get one year of release to repay the loan in easy installments. This will help 45 thousand MSME factories and they will not be asked off for any guarantee or any collateral.  This one will be for 4 years.  

This will be with effective from 31st October with no guarantee fees and no collateral will be taken.  Buy this employment will also be secured and the companies will also be secured.

Covid health workers will be covered with 15 lacs of insurance policy and 80 crore people will be given 5-5 kg wheat and 1kg pulses free of cost per person.  

52606 crore rupees was given to the poor people.  

NPA non performing assets will be benefited by the government and Employees with less than 15000 salary union government will be giving 24% of PF to their PF accounts.

MSME will be given 10,000 crore help to bring their company on a big platform and they can list their company now share market.

If a company has deposit of  Rs 1 crore and has a turnover of Rs 5 crore than that unit will be considered as micro unit.  

Even after a big business the micro unit criteria won't be taken away from the company and that company will still be considered in a micro unit.

This is the change in the definition of MSME.  Small scale industry now have can have deposit of rupees 10 lakh and can do the business of rupees 50 lacs and medium scale industry may have a deposit of rupees more than 20 lakh and turnover could be in rupees 1 crore.

From government procurement tenders of rupees 200 crore foreign investment a global investment will be disqualified. Now government will supply  local MSME with these tenders of rupees 200 crore.

Now tender up to rupees 200 crore will not be a global tender.  And this will increase the definition of Indian Industries into Global acknowledgement.  

And now these Indian industries can now participate in all the projects up to rupees 200 crore.  This will help small scale and medium scale industries of the country.  

Now Indians small MSME's will be encouraged for e market.  and now Indian government will entertain all MSME to E market to be started in India's contribution.

liquidity relief will be given to all provident fund establishments for employees contribution those employees who are working with the amount below rupees 15000 will be 24% of the money will be given by Central Government and that help has been extended.  Around 3.66 lakh establishment have been benefited by this step. It has been extended to June, July and August EPF contribution will be given by central government.  The same was given in March April and May.  

Stagery PF contribution will now be reduced from 12 % to 10%.

Microfinance institutions,  housing corporations,  NBFC are still underrated Rs 30, 000 Crore liquid equity scheme is now introduced.  This will help struggling NBFC'S and bring a change for them.

Rs 45000 crore will be given for nbfc and now cover borrowing touches commercial papers borrowings and the liabilities of the banks will be now help government the first 20% loss will be given by the first guarantee which will be Government of India so we should be the Government of India AAA rated papers they will all be included even and greater paper will be eligible for investments.

Rupees ninety thousand crore will be given to all electricity companies there will be power generation companies. By this non banking companies will be benefited. This will be a one time provision money will be liquidated to these companies.  The guarantee for the money provided to these companies will be taken by the state government.  After that this cycle will go on.  These companies are electricity companies and all the profit by these schemes should be given to the customers.  

Now upto 6 months extension will be given without any cost to the contractor who are workingin the construction work of the project which comes under Central Government and state governments to complete their projects. 

Partial bank guarantee loans could be given to these contractors for the work which they have completed maybe it for those Railways and other projects.  But that will matter case to case.

In the real estate the government and urban Development ministernow fresh project completion dates can be given by them and the dates to complete the project they can mein nau extended as it may be considered as the act of God for the delay as covid-19 is in the category of act of God.  Now registration date and the time of completion of the project can be extended.  will be applicable for 25th March 2020 and now is applicable to every work done by them.  This will reduce the stress to the developers who are working in real estates.

TCS and TDS rates have been reduced to 25% then the present date starting from tomorrow till 31st August 2021.  This will with effect to contract fees,  brokerage, rent, TDS and Ecs and common people will get a discount of Rs 50,000 crore to common people.  This will help non salaried and resident people of the country.  

All the reference of tax will be given immediately 2019 to 2020 are not been extended from 31st July 20 20 and 31st October 2020 to 30 November 2020 and tags in show 30 September 2020 to 31st October 2020.

Getting the date of assessments getting barred as on 30th September 2020 is now been extended to 31st December 2020 extension is not been given from the date of assessment.  31st March 20 21 will now be moving onto 13 September 2021.

RERA and trust LLP have been given extension for the Corona period.  Trust LLP will now be immediately given a refund by the Finance Ministry.

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