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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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Amitabh Bachchan Fan Faints After Hours of Torturous Waiting

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Amitabh Bachchan: Shocking Fan Incident Outside Jalsa

Amitabh Bachchan Fan Faints After Hours of Torturous Waiting

The weekly Sunday rite outside the renowned gates of Jalsa is nothing short of profoundly holy. For decades, thousands of deeply moved admirers have gathered like clockwork, hoping for a single glimpse of the iconic megastar.

Yesterday evening, that fierce commitment took a scary and sad turn. A middle-aged guy, who had been standing patiently in the scorching midday sun for more than four hours, collapsed unexpectedly.

He collapsed totally into profound sleep, landing directly on the harsh, unforgiving asphalt road. The happy, chanting crowd fell silent in an instant as reality hit in.

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A Heartbreaking Moment of Desperation

According to eyewitnesses, this enthusiast travelled across various states for a two-minute glimpse of his idol. His quivering hands clutched a framed vintage photograph of the superstar.

As the searing midday heat reached its zenith, acute dehydration and utter physical fatigue overtook his body. His feeble knees bowed under the crushing weight of his never-ending, frantic wait.

He fell face first to the ground before anyone could react or grab him. The enormous crowd’s collective, frightened gasp boomed over Juhu’s normally peaceful suburban streets.


Sudden Chaos Outside Jalsa’s Gates

Within seconds, total fear spread among the observers. Fellow supporters quickly dropped their homemade banners and posters, coming to the fallen man’s rescue. Someone desperately sprayed cold water upon his pale, sweating face.

The large security crew stationed outside Amitabh Bachchan’s home acted quickly. They were able to remove the rising, panicked crowd, allowing the choking sufferer to breathe easier.

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An emergency ambulance was dispatched immediately, while local volunteers attempted to revive him. In a few startling moments, the atmosphere went from exhilarating exhilaration to total horror.


The Relentless Sunday Evening Madness

Every Sunday evening, the veteran actor gracefully goes onto a high podium at his grand gates. It is a renowned custom that has completely defined Bollywood fan culture over generations.

Passionate admirers will miss meals, risk heavy monsoons, and suffer harsh summer heat waves only to see him wave. It is a profound, emotional bond that defies all reasonable logic.

For this heartbreakingly loyal admirer, the powerful emotional rush combined with severe physical tiredness proved to be a highly perilous, almost lethal combination on the boiling, sweltering concrete.

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Security Personnel Scramble to Prevent Tragedy

Local police officers responded promptly to the chaotic scene, attempting to manage the emotionally charged throng. Medical staff administered quick, vital first aid on the scene, examining his critically weak and decreasing pulse.

The comatose man was gingerly put onto a canvas stretcher, still clutching his prized, sweat-soaked image of the actor. He was sent to a local hospital for emergency treatment.

On-duty medics eventually confirmed that he had severe heatstroke and acute, life-threatening dehydration. Fortunately, his medical condition improved after he received repeated IV infusions and intensive, appropriate care.


A Stark Warning for Star-Worshippers

This terrible, tragic episode has generated a heated, much-needed debate about the extreme limits of celebrity worship in India. Blind passion should never result in the death of an innocent person.

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Jalsa is an undisputed historical monument to love, but yesterday it served as a grim, sobering lesson. Extreme physical endurance for a brief moment can easily result in a catastrophic medical tragedy.

As thousands of passionate individuals continue to flow to Mumbai every day, the fine line between beautiful appreciation and life-threatening devotion becomes increasingly, dangerously blurred for these fragile worshippers.


Terrifying Boundaries of Human Obsession

The burning passion that motivates these ordinary folks to risk their own health is both wonderful and scary. It emphasises the megastar’s immense, godlike influence over millions of hearts.

While the legendary actor continues to express love to his devoted fans, this dangerous occurrence demonstrates that safety should always come first. No fan should have to bleed or faint on the street in order to catch a passing shadow.

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