FM-ECONOMY-HIGHLIGHTS

Following are the measures announced by Finance Minister Nirmala Sitharaman on Friday to boost economic growth and address distress in various sectors:

* Drops super-rich surcharge on FPIs, domestic investors on gains from stock market

* Upfront release of Rs 70,000 cr to PSBs; enhances lending capacity by Rs 5 lakh cr * Banks to pass on rate cuts; to benefit all borrowers

* Reduction on EMIs for housing loans, vehicle and other retail loans * To provide protection to honest decision-making by bankers for boosting lending

* Additional liquidity support to HFCs raised to Rs 30,000 cr * Pending GST refunds to MSMEs to be paid within 30 days

* Amendment to MSME Act to move towards single definition to be considered * Issue of IT orders, notices, etc through a centralised system to cut harassment

* Startups registered with DPIIT exempt from Income Tax, subject to certain conditions * To set up a dedicated cell under CBDT for addressing the problems of startups

* BS-IV vehicles purchased till March 31, 2020 to be operational for registration period * Allows additional 15 pc depreciation on all vehicles till March 31, 2020

* Delayed payments from Govt/CPSEs to be monitored by Expenditure Dept * CSR violation not to be treated as criminal offence

* To set up an entity for credit enhancement for infrastructure, housing projects * Task force to be set up to finalise the pipeline of infrastructure projects

* Further action on development of Credit Default Swap markets soon * Simplification of KYC procedure to improve market access for foreign investors

* To announce more measures in the coming weeks for other sectors * Announcement with regard to real estate sector to be made next week.