The 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.