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A Brief Synopsis of 20 Lac Crore Package Announced By Indian Government.

■ MSME will be given collateral free loan from 31 oct 2020. Rs 3 lack crore reserved by govt for this.
The term period for this loan will be for 4 years and in 1st year they dont need to pay principal.

■ NPA MSME will also will be given loan. The amount reserved for this Rs 20 thousand crores.

■ MSME will also get 50 thousand crores for expansion and to increase production.

■ Definition of MSME Investment limit revised for micro unit upto 1 Cr and turnover can be upto 5 Cr for both manufacturing and service industry.

Similarly limit for medium and small msme increased.

■ Global tender will not happen upto 200 crores. This local units can participate in these tenders.

■ Liquidity relief given to the EPF establishment has been extended to june, july August by govt of India.

■ Relief to Contractors
• Extension of up to 6 months (without costs to contractor) to be provided by all Central Agencies (like Railways, Ministry of Road Transport & Highways, Central Public Works Dept, etc)

■ Rs 30,000 crore Special Liquidity Scheme for NBFCs/HFCs/MFIs

■ In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25% of the existing rates.

■ Extension of Registration and Completion date of Real Estate Projects under RERA.
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.

■ Rs 45,000 crore Partial Credit Guarantee Scheme 2.0 for NBFCs.

■ Rs. 90,000 Cr. Liquidity Injection for
DISCOMs.

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