Package Highlights

Finance Minister Nirmala Sitharaman on Wednesday announced a slew of measures for various sectors, including MSMEs hit by COVID-19-induced lockdown

* Rs 3 lakh crore emergency working capital facility for businesses, including MSMEs * Rs 20,000 crore subordinate debt for stressed MSMEs * Rs 50,000 crore equity infusion through MSME Fund of Funds * Announces new definition for MSMEs * No global tenders for govt tenders of up to Rs 200 crore to promote MSMEs * Extended the EPF support for business, organised workers for another 3 months * Announces Rs 30,000 crore special liquidity scheme for NBFC/HFC/MFIs * Rs 45,000 crore partial credit guarantee scheme 2.0 for liabilities of NBFCs/MFIs * Announces Rs 90,000 crore liquidity injection for stressed discoms * Relief to contractors given by providing extension of up to six months to complete projects * States are being advised to invoke the force majeure clause under RERA. * Reduction in rates of Tax Deduction at Source, Tax Collected at Source by 25 per cent * Last date for payment without additional amount under "Vivad Se Vishwas" scheme extended till December.