@FinMinIndia @nsitharaman to address press conference at 4.00pm with the first set of details about the #AatmaNirbharBharat Abhiyaan. #Finance #PressConference #IndiaFightsCorona #Bharat

The press conference by Smt. @nsitharaman, @FinMinIndia will be addressing a press conference shortly. Please follow this thread for updates on the #AatmaNirbharBharatAbhiyan

I will be posting verbatim from the PC. Thoughts in this thread with simplification later.

Based on 5 immediate pillars:

1. Economy
2. Infrastructure
3. Technology Driven Systems
4. Demography
5. Demand

Addresses issues related to:

1. Land
2. Labour
3. Liquidity
4. Law

Looks for catering to various sections including cottage industry, MSMEs, labourers, middle class, industries among others.

It is not to look inwards and become an isolationist country, but it certainly talks about a confident India which can rest on its strengths & be able to contribute to the world.

There will be tranches in which the package will be revealed.

15 different measures to be announced.

6 measures for MSMEs

2 for Real Estate Sector

2 for NBFCs, MFIs

1 to DISCOMs

1 for contractors

3 relating to Tax measures

1. MSMEs

Collateral free loans upto ₹3,00,000 crs.

4 year tenure

12 months moratoriums. Credit Guaranteed by Government.

Scheme upto 31st October 2020.

Interest capped. Principal covered.

Borrowers with upto ₹25cr outstanding loans and ₹100 crores turnover eligible for the scheme.

Total 45,00,000 MSMEs targeted to be benefited. This is for STANDARD MSMEs.

2. ₹20,000 cr for STRESSED MSMEs to be given subordinate debts. All MSMEs with NPAs/stressed will be eligible.

Government to add ₹4000 cr. to CGTMSE.

3. ₹50,000cr FUND OF FUNDS to infuse equity into MSMEs by Government for scalability and eventually get listed in Stock Exchanges.