{"id":229511,"date":"2020-05-14T15:53:39","date_gmt":"2020-05-14T10:23:39","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=229511"},"modified":"2020-05-15T11:57:30","modified_gmt":"2020-05-15T06:27:30","slug":"day-2-unfolding-of-20-lakh-crore-package-fm-to-announce-next-set-of-economic-reliefs-shortly-stay-tuned","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/14\/day-2-unfolding-of-20-lakh-crore-package-fm-to-announce-next-set-of-economic-reliefs-shortly-stay-tuned\/","title":{"rendered":"Breaking [DAY-2] Unfolding of 20 Lakh Crore Package| FM announces second tranche of economic reliefs; One Nation One Ration Card!"},"content":{"rendered":"<p><strong>Background:<\/strong><\/p>\n<p>Amidst the Corona crisis, PM announced\u00a0 a special economic package with a new resolution. This economic package will serve as an important link in the\u00a0<strong>\u2018AtmaNirbhar Bharat Abhiyan\u201d (Self Reliant India Campaign)<\/strong>\u2018.<\/p>\n<h3 style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>LIVE UPDATES:<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #008000;\"><strong>FOCUS:<\/strong> Migrant Workers, Street vendors, Small Farmer, Self Employed, Traders, etc.<\/span><\/li>\n<li><strong><span style=\"color: #ff0000;\">9 Steps will be announced.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #ff0000;\">14.62 crore person-days of work generated till 13th May 2020<\/span><\/strong><\/li>\n<li>10,000 crore actual expenditure till date<\/li>\n<li>National Floor Wage to be introduced<\/li>\n<li>Re-skilling of workers<\/li>\n<li>Universal minimum wages<\/li>\n<\/ul>\n<h3 style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>Reliefs<\/strong><\/span><\/h3>\n<ul>\n<li>Free food grain supply to all migrants for next 2 months [For non-card holders: 5 kgs of wheat or rice or 1 kg of chana]; State Governments to implement, Centre to borne costs<\/li>\n<li>One Nation One Ration card to be implemented within 3 months<\/li>\n<li>Affordable rented accommodation for migrants; Rental Housing Scheme;Migrant Workers \/ Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under<\/li>\n<li>Mudra Shishu Loans: <span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">Government of India will provide Interest subvention of 2% for prompt\u00a0 <\/span><span class=\"r-18u37iz\">MUDRA<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">&#8211; Shishu Loans payees for a period of 12 months; Relief of Rs 1500 cr to MUDRA-Shishu loanees<\/span><\/li>\n<li>Special Credit facility for Street Vendors: Easy access to credit; Rs 5000 cr Special Credit Facility<\/li>\n<li><span style=\"color: #0000ff;\"><strong>Middle Income Group <\/strong><span style=\"color: #000000;\">with upto 6 to 18 lakh income group: <span style=\"color: #0000ff;\"><strong>Credit link subsidy scheme for housing<\/strong><\/span> to be extended till March 2021; 2.5 lakhs middle income families to benefit during 2020-21<\/span><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><span style=\"color: #000000;\"><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">To create job opportunities for <\/span><span class=\"r-18u37iz\">Tribals<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\"> \/Adivasis-Plans worth Rs 6000 crores to be approved shortly under Compensatory Afforestation Management &amp; Planning Authority (<\/span><span class=\"r-18u37iz\">CAMPA<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">) Funds<\/span><\/span><\/span><\/li>\n<li>Rs 30,000 Crore additional emergency working capital fund through NABARD<\/li>\n<li>Kisan Credit Card: 2 lakh Crore concessional credit for farmers;<span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\"> 2 lakh crore Concessional credit boost to 2.5 crore farmers through <\/span><span class=\"r-18u37iz\">KisanCreditCards<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">; Fishermen and Animal Husbandry farmers will also be included in this drive<\/span><\/li>\n<\/ul>\n<p><strong>Read below the reliefs offered yesterday by the Finance Minister, with the focus being MSMEs:<\/strong><\/p>\n<h3><strong><a href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/13\/finance-minister-may-announce-details-of-rs-20-lakh-crore-relief-announced-by-prime-minister-stay-tuned\/\">LIVE UPDATES<\/a> [14-05-2020]\u00a0<\/strong><\/h3>\n<ul>\n<li><strong>Focal point:<\/strong>\u00a0Liquidity, Labour, Law and Land.<\/li>\n<li>6 Major steps for MSMEs<\/li>\n<li>Collateral free Automatic Loans upto Rs 3 lakh Crores<\/li>\n<li>100 % credit guarantee<\/li>\n<li>Additional Funds for MSME revival<\/li>\n<li>Loans to be given till October 31st<\/li>\n<li>Rupees 20 Crore for stressed MSMEs<\/li>\n<li>50,000 Crore equity to be infused for viable and potential MSMEs<\/li>\n<li><strong>New Definition of MSMEs \u2014 Investment can be upto 1 Cr and turnover upto 5 Crore<\/strong><\/li>\n<li>Global tender to be allowed upto Rs 20 Crores<\/li>\n<li>Other interventions for MSMEs<\/li>\n<li>Rs 2500 crores EPF support for businesses and Workers for 3 months<\/li>\n<li>EPF contribution reduced for Business and Workers for 3 months \u2014 Rs 6750 Crores<\/li>\n<li>Rs 30,000 crores liquidity facility for NBFC\/HCs\/MFIs<\/li>\n<li>Rs 45,000 Crores Partial Credit Guarantee Scheme 2.0 for NBFC<\/li>\n<li>Rs 90,000 CR liquidity injection for DISCOMs<\/li>\n<li>Relief to contractors<\/li>\n<li>Extension of registration and completion date of real estate projects under RERA; No individual applications needed; Suo Moto be done; Registered projects expiring on or after 25th March<\/li>\n<li>Rs 50,000 crores Liquidity through TDS\/TCS reductions till March 2021<\/li>\n<li>Tax filing due date extended to 30th November, 2020<\/li>\n<li>Pending refunds to charitable trusts and non-corporate businesses &amp; professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.<\/li>\n<li>Due date of all income tax return for FY2019-20 extended from 31st July, 2020 &amp; 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October, 2020.<\/li>\n<li>Date of Assessments getting barred on 30th September, 2020 extended to 31st December, 2020 and those getting barred on 31st March, 2021 will be extended to 30th September, 2021.<\/li>\n<li>Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020<\/li>\n<\/ul>\n<div class=\"twitter-share\" style=\"text-align: center;\"><span style=\"color: #ff0000;\"><em>Stay tuned for today&#8217;s briefing!<\/em><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Background: Amidst the Corona crisis, PM announced\u00a0 a special economic package with a new resolution. This economic package will serve as an <\/p>\n","protected":false},"author":8808,"featured_media":229459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[41362,41365,41321,39924,41323,41361,41364,41363],"class_list":["post-229511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news","tag-20-lakh-crore-package","tag-affordable-housing","tag-atmanirbhar-bharat-abhiyan","tag-covid-19","tag-economic-package","tag-finance-minister-nirmala-sitharaman","tag-kisan-credit-card","tag-self-reliant-india-campaign"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Breaking [DAY-2] Unfolding of 20 Lakh Crore Package| FM announces second tranche of economic reliefs; One Nation One Ration Card! | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/14\/day-2-unfolding-of-20-lakh-crore-package-fm-to-announce-next-set-of-economic-reliefs-shortly-stay-tuned\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking [DAY-2] Unfolding of 20 Lakh Crore Package| FM announces second tranche of economic reliefs; One Nation One Ration Card!\" \/>\n<meta property=\"og:description\" content=\"Background: Amidst the Corona crisis, PM announced\u00a0 a special economic package with a new resolution. 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