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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
