FM Nirmala Sitharaman India Economic Package Announcement: Finance Minister Nirmala Sitharaman has given detailed information about the Rs 20 lakh crore economic package announced by PM Narendra Modi. Announcing a package of Rs 3 lakh crore to micro, small and medium industries, the Finance Minister said that loans will be given by banks without any guarantee. Apart from this, the government has decided to deposit the PF of employees with salary less than Rs 15,000 by August itself. He said that loans will be provided to MSMEs without any guarantee. This will benefit 45 lakh units and jobs will also be protected from it. Let’s know, the finance minister did and what big announcement…
The loan will not be repaid for one year: EMIs will also be exempt for one year on loans given to micro, small and medium industries. This loan will be given for a period of 4 years. No guarantee will be required on this. A provision of Rs 20,000 crore has been made for the small-scale industries in debt crisis. This will benefit 2 lakh units.
50,000 crore fund to be made to help: A fund of Rs 50,000 crore will be created for MSME. Through this, small scale industries will be supported for expansion. With this, they will also be able to get listed in the market.
200 crore tender is no longer global: Tenders up to Rs 200 crore will not be global tender. Till now there was a problem in large exports from small industries, so now the tender up to Rs 200 crore has been removed from global status.
The status of small scale industry will remain even after investment of 1 crore: The MSME will continue to benefit from MSMEs even after much investment. Earlier MSME was decided only on the basis of investment, now this definition will be based on turnover. Earlier, investment of up to 25 lakhs was given the status of small scale industry. Now it has been increased to Rs 1 crore. Apart from this, the limit of turnover up to Rs 5 crore has also been fixed. That is, even after getting an investment of Rs 1 crore and a turnover of up to Rs 5 crore, the benefits will continue to be available as a micro unit. This will be the definition for both service and manufacturing units.
20 crore limit for medium industries: The Finance Minister said that even after investment of Rs 20 crore and turnover up to Rs 100 crore, the status of medium industries will remain.
Big relief to companies in PF too: Companies with less than 100 employees and 90 percent of employees with less than 15,000 wages have been announced a further relief for three months in PF. The government will deposit the amount of PF itself from June to August. 12 employees and 12 percent of the companies will be deposited. Till now this relief was only from March to May. Apart from this, the limit of PF for other companies has been reduced from 12 to 10% only.
90,000 crore to power companies: The finance minister will invest Rs 90,000 crore in the power companies so that they do not have a shortage of cash and they can pay for electricity. Due to the hanging of payments from many states, companies have faced a cash crisis.
Builders get 6 months of relief: The builders will get relief to complete the work for 6 months. Those who were to be handed over the house by 25 March will now be given relief for the next 6 months.
Will make local brands global: Finance Minister Nirmala Sitharaman said that the package has been decided after consultation with various sections of the society. PM Narendra Modi has presented a big vision to the country. He said that self-reliant India is not meant to be separated from the world but to make an important contribution to the global supply chain. The goal of this campaign is to place local brands as global brands. Finance Minister Nirmala Sitharaman said that for the next few days I will constantly talk to the countrymen with my team and inform about the steps taken for the economy.
Help reached poor and farmers in lockdown also: Finance Minister Nirmala Sitharaman said that the poor and farmers have been given great help under the Ujjwala scheme, PM Awas Yojana, PM Kisan Yojana, PM Crop Insurance Scheme, Agricultural Irrigation Scheme, Jan Dhan Yojana, Ayushman Bharat. Direct benefits of these schemes have reached the farmers under direct benefit transfer. Through all these schemes, efforts were made to improve the lives of the poor and farmers even during the period of lockdown. The government has done great work in the field of Ease of Doing Business. Apart from this, through GST, IBC, we have made efforts to ease the business.
Anurag Thakur said, Modi is known for tough decisions: Minister of State for Finance Anurag Thakur said that PM Narendra Modi has always been known for big decisions. Whether it was rescue and relief work after the earthquake in Kutch or the rapid manufacture of PPE kits and masks during the Corona era. Anurag Thakur said that difficult decisions will be taken even further to make the country self-reliant.