Thread by @PBNS_India, Watch Live: Union Finance Minister @nsitharaman addressing a Press Conference.https://youtu.be/J2AIUbvr4OI Essentially, the [...]

Watch Live: Union Finance Minister @nsitharaman addressing a Press Conference.

Essentially, the goal is to build a #SelfReliantIndia, that is why the #EconomicPackage is called #AatmaNirbharBharatAbhiyan: FM @nsitharaman

Given pillars based on which we seek to build #AatmanirbharBharat, our focus would be on land, labour, liquidity and law. A global value chain integration is a part of this vision: FM @nsitharaman #AatmaNirbharBharatAbhiyan

The Government under PM @narendramodi has been a listening and responsive government, hence it is fitting to recall some reforms which have been undertaken since 2014: FM @nsitharaman
#AatmaNirbharBharatAbhiyan

New fisheries departments, Krishi Sinchayee Yojana, PSB cleanups, public sector recapitalization, FDI liberalization, #EaseOfDoingBusiness reforms, IBC reforms, GST reforms: FM @nsitharaman recalls various reforms undertaken by the Govt. #AatmaNirbharBharatAbhiyan

The resolve to build an #AatmanirbharBharat brings in a new energy to the nation, where we see opportunity in crisis, this is part of the reason why India has been able to manage #COVID19 with strength: MoS, @ianuragthakur
#AatmaNirbharBharatAbhiyan

PM @narendramodi is known to make big decisions, this mindset is going to become India #AatmanirbharBharat. PM has announced a historic package of ₹ 20 lakh crore: MoS @ianuragthakur
#AatmaNirbharBharatAbhiyan

Soon after #Budget2020 came #COVID19. Within hours of the announcement of lockdown, #PradhanMantriGaribKalyanPackage was announced. We are going to build on this package: FM @nsitharaman
#AatmaNirbharBharatAbhiyan

Beginning today, for the next few days, I shall be coming with the entire @FinMinIndia team to detail the PM's vision for #AatmanirbharBharat laid out by him yesterday: FM @nsitharaman
#AatmaNirbharBharatAbhiyan

We ensured that ₹ 18,000 crore of refund was given to all taxpayers, the intention being that liquidity should be in the hands of the people. 14 lakh taxpayers have benefited from this: FM @nsitharaman
#AatmaNirbharBharatAbhiyan

Today, the #EconomicPackage has 16 different measures

6 of which deal with MSMEs
2 relating to EPF
2 relating to NBFCs, housing finance corporations and MFIs
1 on discoms
1 on contractors
1 on real estate
3 on tax measures: FM @nsitharaman #AatmaNirbharBharatAbhiyan

A collateral-free automatic loan is being given to MSMEs, with a facility of ₹ 3 lakh crores.
This will enable 45 lakh MSME units to resume business activity and also safeguard jobs: FM @nsitharaman
#AatmaNirbharBharatAbhiyan #EconomicPackage #AatmanirbharBharat

The second measure is for stressed MSMEs, who will be provided 20,000 crore via subordinate debt, will benefit about 2 lakh MSMEs : FM @nsitharaman #AatmaNirbharBharatAbhiyan #EconomicPackage

For MSMEs needing handholding, A ₹50,000 crore #FundofFunds through mother fund - daughter fund framework is being created, to expand their capacity and to get listed on markets which they choose : FM @nsitharaman #AatmaNirbharBharatAbhiyan

FM @nsitharaman anounces #NewMSMEDefinition, in favour of MSMEs, to address MSMEs' fear of losing benefits due to outgrowing the MSME definition.
Now, MSMEs need not worry about growing in size, they can continue to receive MSME benefits.

#AatmaNirbharBharatAbhiyan

Investment limit for MSME increased

Additional criteria for turnover size

Distinction between manufacturing and service MSME removed! : FM @nsitharaman announcing #NewMSMEDefinition
#AatmaNirbharBharatAbhiyan

Investment limit for MSME increasedAdditional criteria for turnover sizeDistinction between manufacturing and service MSME removed! : FM @nsitharaman announcing #NewMSMEDefinition #AatmaNirbharBharatAbhiyan

Global tenders will be disallowed in government procurement for tenders up to ₹ 200 crore. This will address unfair competition being faced by MSMEs, and enable them to participate actively in government purchases : FM @nsitharaman #AtmaNirbharBharatAbhiyan

Seamless e-market linkages across the board will be provided to MSMEs, considering their inability to participate in trade fairs due to #COVID19.
All pending payments to MSMEs, from central govt. bodies & PSUs to be done within next 45 days: FM #AtmaNirbharBharatAbhiyan

To ease financial stress as businesses get back to work, Government decides to continue EPF Support for Business & Workers for 3 more months providing a liquidity relief of Rs 2,500 crore. #AatmaNirbharBharatAbhiyan

In order to provide more take home salary for employees and to give relief to employers in payment of PF, EPF contribution is being reduced for Businesses & Workers for 3 months, amounting to a liquidity support of Rs 6750 crores. #AatmaNirbharBharatAbhiyan

Government launches a Rs 30,000 crore Special Liquidity Scheme for NBFCs/HFCs/MFIs

Government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs. #AatmaNirbharBharatAbhiyan

To give a fillip to DISCOMs with plummeting revenue and facing an unprecedented cash flow problem, Government announces Rs. 90,000 Crore Liquidity Injection for DISCOMs. #AatmaNirbharBharatAbhiyan

In a major relief to contractors, all Central agencies to provide an extension of up to 6 months, without cost to contractor, to obligations like completion of work covering construction and goods and services contracts. #AatmaNirbharBharatAbhiyan

. @MoHUA_India will advise States/UTs and their Regulatory Authorities to extend the registration and completion date suo-moto by 6 months for all registered projects expiring on or after 25th March, 2020 without individual applications.

Government to infuse Rs 50,000 crores liquidity by reducing rates of TDS, for non-salaried specified payments made to residents, and rates of Tax Collection at Source for specified receipts, by 25% of the existing rates. #AatmaNirbharBharatAbhiyan

Among other measures, Due date of all income-tax return for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October,2020. #AatmaNirbharBharatAbhiyan

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