New Delhi: The union finance minister, Nirmala Sitharaman, Wednesday said, Rs 3 lakh crore collateral free automatic loans will be given to 45 lakh MSME units. The loans will be provided with 100% credit guarantees.There will be a moratorium of one year on payment of interest and principal.
Two lakh stressed MSME units will get Rs20,000 crore debt support.
“Rs 50,000 core equity support will be given to MSME doing well and wants to grow.”
There would be no gobal the tenders for government purchases up to Rs 200 crore.
In next 45 days all the receivable by the MSME from the government and PSUs will be cleared.
Sitharaman redefined the MSME and increased the bar for micro, small and medium units.
The prime minister, Narendra Modi, on Tuesday had announced an economic package of Rs 20 lakh crore for revival of the country ‘s economy that has been badly hit due to Covid-19 lock down.
Sitharaman along with his MoS Anurag Thakur gave the details of the Rs 20 lakh crore stimulus package.
The finance minister said the the Centre government will bear Rs 2,500 crore EPF payments by the employer and the employee for the months of June, July and August 2020.
Rs 30,000 crore special liqidity fund will be for NBFCs, HFCs and MFIs.
Discoms will get Rs 90,000 crore support from PFC and REC. The benefit will come if the State government gives guarantee that the benefit would be passed on to the consumers.
Contractors working for government concerns like railways, National Highways will get 6 month grace period in completion of the works.
Real Estate concerns will get relief from force measure for six months from March 25, 2020.
TDS rate has been reduced by 25% for the year 2020-21. Non- salaried people will get Rs 50,000 crore benefit.