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Nirmala Sitharaman Announced The First Part Of The Economic Stimulus Of Rs 20 Lakh Crore

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Nirmala Sitharaman Announced The First Part Of The Economic Stimulus Of Rs 20 Lakh Crore

FM Nirmala Sitharaman today shared the first installment of the mega 20 lakh crore package with a focus on giving relief to the MSME sector.

The Prime Minister, during his national address on Tuesday, announced the Atmanirbhar India package focusing on making India self-reliant.

The finance minister, who was flanked by MOS Anurag Thakur and finance ministry officials, said that self-sufficient India rests on five pillars: economy, infrastructure, technology-driven systems, demographics and demand. Factors of production will focus on: land, labor, liquidity and law. It aims to make local brands global.

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key takeaways:

Six major steps for revival of MSME sector

  1. Collateral free loan of Rs 3 lakh crore for MSMEs. This will benefit 45 lakh units so that they can resume work and save jobs.
  2. For stressed MSMEs, a subordinate loan provision of Rs 20,000 crore has been announced for 2 lakh MSMEs. This will benefit those who are NPAs or stressed MSMEs.
  3. An equity infusion of Rs 50,000 crore through the Mother Fund-Daughter Fund for MSMEs, which is viable but needs handholding. A fund with a corpus of Rs 10,000 crore will be set up to expand the capacity of these units and help market them on selection.
  4. The definition of MSMEs has been modified to allow MSMEs not to lose profits. Also, there will be no difference between manufacturing and service sector MSMEs.
  5. Global tenders up to Rs 200 crore for government contracts will be canceled.
  6. This will ensure that e-market linkages are provided across the board in the event of COVID not participating in trade fairs. Government of India and PSUs will clear all receipts in the next 45 days.

For employees

  1. Liquidity relief of EPF assistance of ₹ 2,500 crore is being given to all EPF establishments, EPF contribution will be paid by the government. More than 72 lakh employees from India will benefit for another 3 months till August.
  2. Statutory EPF contribution for all organizations and their employees covered by EPFO ​​has been reduced from 12% to 10%. It does not apply to government organizations. This will create liquidity of Rs 6,750 crore in these organizations.

For NBFC / HFC / MFI

  1. Rs 30,000 crore special liquidity scheme for investment in investment grade letter of credit of NBFCs, HFCs and MFIs. These NBFCs are also funding MSMEs. This will be fully guaranteed by the Government of India.
  2. Partial Credit Guarantee Scheme 2.0 of Rs 45,000 crore for NBFCs. The first 20% loss will be borne by the guarantor which is the Government of India.
  3. For DISCOM, a lump sum emergency liquidity injection of Rs 90,000 crore against all their receipts. States will guarantee this.

Other information

  1. Extension of up to 6 months (without cost to the contractor) by all central government agencies like Ministry of Railways, Road Transport and Highways, Central Public Works Department.
  2. On immovable property, the Ministry of Urban Development will issue advisories to the States / UTs, so that the regulators can negotiate for the force. Regulators may extend completion / registration dates for projects ending on or after March 25, 2020 by six months.
  3. Reduction of 25% of the existing tax rates on Source (TDS) and Tax Collection at Source (TCS) from yesterday to 31 March 2021. It will release Rs 50,000 crore.
  4. Due date for filing all income tax returns was extended from 31 July to 30 November. Vivad to Vishwas scheme extended to 31 December 2020. The taboo dates were extended to December 31, 2020 as of September 30, 2020. By 31 March 2021, the taboo dates were extended to 30 September 2021.

Also Read: Follow This Diet To Stay Healthy While Working From Home 

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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1 day ago

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May 10, 2025

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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