મુખ્યમંત્રી @vijayrupanibjp એ 14 હજાર કરોડ રૂપિયાનું આર્થિક પેકેજ જાહેર કર્યું
200 યુનિટ સુધીની માસિક વીજ વપરાશકર્તાને 100 યુનિટની માફી
વેપારીઓને પ્રોપર્ટી ટેક્સમાં 20% ની રાહત
નાના દુકાનદારોને 3 મહિનાના વીજબિલમાં રાહત
ઉદ્યોગ વ્યવસાય માટે 1700 કરોડની સબસીડી
Hon’ble Union Finance Minister is likely to announce relief measures for agriculture and related activities.
Government is actively discussing raising states’ borrowing limit for FY 2020-21. Increasing the borrowing limit may be part of Aatmanirbhar Bharat Abhiyan.
Sectors covered in tranche 3: Agriculture and allied activities including fishery, animal husbandry and food processing.
FM to announce 11 relief measures today:
8 measures related to infrastructure such as storage capacities
3 measures related to governance and administrative reforms
Steps for agriculture during COVID-19:
MSP purchases worth Rs 74,300 crore
PM Kisan Samman Yojna payments made worth Rs 18,700 crore
Cleared PM Fasal Bhima Yojna with Rs 6,400 crore
Numerous steps are taken for animal husbandry such as interest subvention, and provided liquidity worth Rs 5,000 crore.
Rs 1 lakh crore for aggregators, FPOs, agriculture entrepreneurs and startups for the development of cold chain and post-harvest management.
Rs 10,000 crore allotted to form Micro Food Enterprises (MFE), which will benefit two lakh MFEs on a cluster-based approach.
Rs 10,000 crore to boost local products for global sale
Launching Pradhan Mantri Matsya Sampadha Yojana (PMMSY) with Rs 20,000 crore. This will ensure employment to over 55 lakh people and help double the exports to Rs 1 lakh crore.
To ensure 100% vaccination for around 53 crore animals, the National Animal Disease Control Programme will receive Rs.13,343 crore.
To support private investment in dairy processing and cattle feed infrastructure, the Animal Husbandry Infrastructure Development Fund will be created and receive Rs 15,000 crore.
National Medicinal Plant Board (NMPB) will receive Rs 4,000 crore to promote herbal cultivation in 10 lakh hectares.
Rs 5,000 crore will be allocated to develop beekeeping activities. This will help 2 lakh beekeepers.
TOP to TOTAL Initiative: Extending “Operation Greens” from tomatoes, onions, and potatoes (TOP) to all fruits and vegetables in a pilot mode by allocating Rs 500 core.
Amendments to the Essential Commodities Act to deregulate cereals, edible oils, oil seeds, pulses, onions and potatoes. This will enable better price realisation for farmers.
A central law will be formulated for implementing agriculture marketing reforms. This provides marketing choices to farmers like every other trader.
Farmers will not face inter-state barriers.
A legal framework will be created for farmers, which will mitigate the risk, provide assured returns and standardise the quality.
Today’s initiative focuses on migrant workers, street vendors, small traders, self-employed people, small farmers– in all 9 steps to be announced: FM
Among the 9 measures — 3 are related to migrant workers, 1 for street vendors, small traders, self-employed people, 2 on small farmers1 on housing: FM
3 crore marginal farmers have already availed Rs 4 lakh cr of loans on concessional rates, says FM
Interest subvention and prompt repayment incentive on crop loans due from March 1 has been extended to May 31: FM Nirmala Sitharaman
Direct support to farmers & rural economy provided post Covid-19 as part of Aatma Nirbhar Bharat Package: FM
25 lakh new Kisan Credit Cards have been sanctioned with a loan limit of Rs 25,000 crore: FM
The government has permitted state governments to utilise SDRF for setting up shelter for migrants and providing them food and water etc. We are conscious, we are attending to the migrants and giving them in various different ways: FM
Minimum wage for workers hiked from Rs 182 to Rs 202 per day. States and UTs have also been told to provide jobs to migrants: FM
12,000 self-help groups (SHGs) have produced more than 3 crore masks and 1.2 lakh litres of sanitizers during Covid-19 period. 7,200 new SHGs for urban poor have been formed during the last two months: FM
We want to give the right to minimum wage universally to all workers. We are proposing a national floor-wise wage rate so that uniform wage rate prevails across states: FM
Govt permitted state governments to utilise SDRF for setting up shelter for migrants
We have already generated 14.62 crore person-days of work till 13th May, which is 40-50% more persons enrolled as compared to last May. Migrant workers going back to their states being actively enrolled: FM Nirmala Sitharaman
We have already generated 14.62 crore person-days of work till 13th May, which is 40-50% more persons enrolled as compared to last May. Migrant workers going back to their states being actively enrolled: FM Nirmala Sitharaman
Public ditribution ration cards can be used in any ration shops irrespective of the states. One nation one ration card will be implemented and we assure 100% of national portability of these cards by March 31, 2021: FM
Govt to launch a scheme for affordable rental housing for migrant workers/urban poor to provide ease of living by converting government-funded housing in cities into Affordable Rental Housing Complexes (ARHC) under PPP mode through concessionaire: FM
Interest subvention support of 2% for those who have availed loans under Mudra Shishu loan (Rs 50,000 or less) will be given after 3 month moratorium period ends. It will benefit over 3 crore people under the shishu category: FM
Government will launch a special scheme within a month fo facilitate easy access to credit to street vendors. Will provide Rs 5,000 crore special credit facility for street vendors. Initial working capital of Rs 10,000 will be provided to them: FM
Government to extend the Credit Linked Subsidy Scheme (CLSS) for middle income group (annual income Rs 6-18 lakhs) up to March 2021; 2.5 lakh middle income families to benefit during 2020-21: FM
Rs 2 lakh crore concessional credit will be initiated to 2.5 crore farmers through Kisan Credit Cards: FM
Rs 30,000 crore additional emergency working capital fund to be provided through NABARD to small, marginal farmers: FM
For MSME
Any receivables from Government of India or will be received in 45 days
For EPF
For NBFCs, Housing Finance Companies and Micro finance Companies
DISCOMS (Electricity distribution companies)
Emergency liquidity injection upto Rs.90,000 crores to pay to Gencos (electricity generation companies). Scheme helps in giving rebate to ultimate consumers
Government contracts
6 month extension to contractors for contracts with central government agencies
Real Estate
Urban development ministry shall advisory to states and Union Territories, they could treat covid-19 period as force majeure or vis major in execution of contract signed.
Extension is for a period of 6 months
Direct Tax
And
Assessment for Assessment year 2019-20 extended from 31st March 2021 to 30th September 2021.
The Rs 20 lakh crore package is almst 10 percent of India’s GDP and comes as the country battles economic slowdown and effects of the global novel coronavirus pandemic. Known COVID-19 infections in India have reached 74,281 and deaths are at 2,415.
Addressing the nation on May 12, PM Modi had said the Rs 20 lakh crore package would allow various sections of the country and those linked to economic system to get support and strength. “This package will give a new impetus to the development journey of the country in 2020 and a new direction to the self-reliant India campaign. In order to prove the resolve of a self-reliant India, land, labour, liquidity and laws all have been emphasised in this package,” he added.
Industrialist Sajjan Jindal welcomed the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi to revive the economy hit by COVID-19, saying it will give a boost to the ambitious Make in India programme.
“The package is predicated to make the Indian economy self-reliant by leveraging our inherent strengths of demographics, technological skills and domestic demand by building infrastructure and robust supply chains that would give a boost the Make in India programme,” Jindal said in a statement. The Prime Minister’s emphasis on being ‘Vocal about Local’ and to buy local is a message to rekindle India’s sagging manufacturing sector, he said.
“This announcement is a bold move by the government, no doubt, but we will have to read the fine print through subsequent announcements by the FM to see how this would be implemented and what specific benefits the nation will derive from it,” Jindal said
– PTI
Prime Minister has laid out a vision after several discussions at various levels. Inputs obtained were given due consideration. This is to spur growth and built a self-reliant India. This initiative is called Athma Nirbhar Bharat Abhiyan: Sitharaman
To build the ‘Atma Nirbhar India’, India has DBT, Ujjawala Yojana, AWAS Yojana, Swaccha Bharat Abhiyan and Ayushman Bharat. Several schemes which benefitted poor were reform driven: Sitharaman
PM spoke of 5 pillars of the economy. Our system has to move so that India can emerge as a power in the 21st century. Looking at what should be done to bring us up to par, bring in bold reforms. PM is known for big decisions: Anurag Singh Thakur
Today’s tranche has 14 different measures. Of these, 6 are for MSMEs, 2 are for EPF, 2 for NBFCs and MFIs, 1 for discoms, 1 for contractors, 1 for real estate sector, and 3 tax measures: Sitharaman
For standard MSMEs, collateral free automatic loans worth Rs 3 lakh crore will be provided. This is for 4 year tenure and is 100 percent guaranteed. No principal repayment for 12 months. This will last till October 21, 2020. It will benefit 45 lakh units, allowing them to resume activity and safeguarding jobs: Sitharaman
Rs 20,000 crore will be infused through subordinate debt for stressed MSMEs who have equity problems. This liquidity line will benefit 2 lakh MSMEs. All NPA’ or stressed MSMEs are eligible for scheme. Government will provide Rs 4,000 crore to CGTMSE who will provide partial guarantee to banks who will then give benefit to stressed MSMEs: Sitharaman
Funds of fund will infuse Rs 50,000 crore equity for those MSMEs who have potential and are viable. Corpus of Rs 10,000 crore – through mother fund and daughter fund we will provide support. This will help expand capacities and help them get listed in markets of choosing: Sitharaman
Definition being changed for MSMEs in their benefit. So that they can grow in size and get benefits. Investment limit which defined MSMEs revised upwards. Additional criteria being brought in is turnover size – earlier differentiation between manufacturing and service MSMEs will be categorised similarly: Sitharaman
Next step for MSMEs, global tenders in government procurement will be disallowed for up to Rs 200 crore or less. This will allow MSMEs a chance to supply for these big projects. Small units can be part of government purchases and now Self-reliant India can Make in India: Sitharaman
Sixth step for MSMEs is that post COVID, since trade fairs and exhibitions will be difficult, we will provide e-market facilities. GoI and CPMEs where there are receivables – all will be cleared within 45 days: Sitharaman
EPF relief for all establishments with Rs 2,500 crore liquidity support. GoI will provide both employer and employee – 12% contributions. Extending support for another three months from March-May 2020 to June-August 2020 as well. Nearly 3.6 lakh establishments benefit, 72.22 lakh employees will benefit: Sitharaman
To increase take-home salaries for those not covered in EPF benefit, the statutory PF contribution is being reduced from 12 percent to 10 percent. For state PSUs – the employers will continue to pay 12 percent, employees will get option to pay 10 percent for the next three months: Sitharaman
For NBFCs, HFCs and MFIs – it was felt NBFCs were not getting resources. We are launching Rs 30,000 crore special liquidity scheme where government will buy investment grade debt papers of NBFCs, HFCs and MFIs – not high quality only. These securities will be fully guaranteed by GoI. We hope that these NBFCs – which do not have high quality debt papers, can then support the MSMEs dependent on them: Sitharaman
For NBFCs, HFCs and MFIs – Rs 45,000 liquidity infusion through partial guarantee scheme. Will cover commercial papers and borrowings. First 20 percent loss will be borne by guarantor – GOI. Double AA rated paper and unrated papers will all be eligible: Sitharaman
For discoms facing unprecedented cash flow problems, unable to pay gencos. To help them a one-time emergency liquidity infusion of Rs 90,000 crore via PFC and REC is provided. This will be a state issued guarantee and rebate will be provided to those discoms that pass benefit to end-customer: Sitharaman
For contractors. All GoI agencies, such as Railways, highways or central public works, will give three to six months extension to all contractors without extra costs. This will cover construction work and goods and services contracts, completion of works and intermediate milestones, and also concessional period in PPP contracts. To facilitate greater liquidity, government agencies will partially release bank guarantees to the extent of the completed contract so that cash flow improves: Sitharaman
For real estate sector – the Urban Development Ministry shall issue advisories to states and UTs to treat the COVID-19 period as an ‘Act of God’ and thus allow force majeure. Thus, fresh project registration certificates can be issued and, registration and completion date can be extended suo moto for up to six months for projects registered on or after March 25, 2020: Sitharaman
Reduced TDS and TCS rates by 25 percent. This is applicable on all payments – interest, rent, brokerage, supply, etc. This will be enforced from tomorrow till March 31, 2021. This reduction will release Rs 50,000 crore in hands of people: Sitharaman
All pending refunds of charitable trust, non-profit business, cooperatives and small partnerships, shall be issued immediately. Due date of all I-T returns for FY19-20 from July 31, 2020 and October 31, 2020 extended till November 31, 2020. Tax audits extended from September 30, 2020 till October 31, 2020. Date of assessments getting barred as of September 2020 is extended till December 2020. Those getting barred on March 31, 2021 are being extended till September 31, 2021. Vivad se Vishwas scheme is being extended till December 31, 2020 without any additional amount: Sitharaman
CM to permit export-oriented units situated in city limits, except those situated inside the containment zones, to resume operations from 25th April, 2020 with stringent precautions as per the State Govt guidelines.
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