Today at 4pm-2nd installment of economic package to be announced by FM
Kanwar Inder Singh/ royalpatiala.in/ Chandigarh
Yesterday, on May, 13 India’s finance minister Nirmala Sitharaman said that, over the next few days her team will come before the media to put forth PM’s vision and share more details on the economic package, as announced by Prime Minister Narendra Modi.
So, today once again the Union Finance Minister Nirmala Sitharaman will address the media at 4 pm in the second installment/ phase of announcements on central government’s Rs 20 lakh crore package, to bail out the Indian industry.
Sitharaman on Wednesday announced a slew of measures under the economic package that she said would infuse vigour in the economy. She had already announced TDS, TCS rate for non-salaried payments for period up to March 31, 2021 has been cut by 25%. The finance minister announced that the due date for all income tax returns has been extended to November 30.
In order to provide more take home salary for employees and to give relief to employers in payment of Provident Fund, Employees’ Provident Fund Organisation (EPF) contribution is being reduced for businesses and workers for 3 months.
Yesterday she also announced Power Finance Corporation and Rural Electrification Corporation will infuse liquidity in the DISCOMS to the extent of Rs 90000 crores in two equal instalments. This amount will be used by DISCOMS to pay their dues to Transmission and Generation companies. Further, CPSE GENCOs will give a rebate to DISCOMS on the condition that the same is passed on to the final consumers as a relief towards their fixed charges.
“Definition of MSMEs has been revised, investment limit to be revised upwards, additional criteria of turnover also being introduced,” the finance minister stated.
Today at 4pm-2nd installment of economic package to be announced by FM and all India traders, businessman, industrialist, corporate sector is waiting eagerly for her announcement.
May,14,2020
