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Sitharaman said this measure could help nearly 45 lakh units to resume business activity.Electrical equipment such as smartphones and computers are a key part of India’s import bill. This is the second tranche of the package that includes past actions by the Reserve Bank of India as well as the first Covid-19 relief package announced during March and April.Loans to MSMEs are mostly given against property (as collateral) because often there isn’t a robust cash flow analysis available. Finance Minister Nirmala Sitharaman on Wednesday announced a Rs 30,000 crore special liquidity scheme for non-banking financial institutions to provide credit support to the sector amid the coronavirus crisis.Further, a Rs 45,000 crore partial credit guarantee scheme 2.0 was also unveiled for non-banking financial companies (NBFCs), housing finance companies (HFCs), and microfinance institutions (MFIs) with low credit rating to help them extend loans to individuals and MSMEs. "This is a very timely and scientific move with expertise and collateral free loans for MSMEs will boost them to resume operations. There is nothing for the state govts which have been asking for funds, as they are at the forefront of fighting the pandemic. Has been reduced to 10% for private sector employers and employees, and public sector employees; public sector employers continue to pay 12%. He, however, said it was unfortunate that the Prime Minister did not speak about providing relief to the crores of migrant workers. (The second leg of the relief package continues with the basic design of leveraging large stimulus with minimal fiscal cost — of the total liquidity infusion of Rs 3.10 lakh crore, the likely outflow from the Centre’s exchequer is only about Rs 5,000 crore.Thursday’s measures focused on the poorer segments of society, including migrant labour, small and marginal farmers and urban poor, seems skewed more towards the long-term.For instance, the affordable rental housing scheme under Pradhan Mantri Awaas Yojana for migrant workers and urban poor will likely be implemented only over a longer time frame.Union Finance Minister Nirmala Sitharaman Wednesday in her second press conference further #Between March 01 and April 30, nearly 63 lakh loans of farmer worth Rs 86,600 was approved.
I believe that the economic package by PM will help MSMEs. Fishermen and animal husbandary farmers will be included in this drive. Finance Minister Nirmala Sitharaman to hold Press Conference today after Prime Minister Narendra Modi announced 20 Lakh crore relief package yesterday. At least 2.5 lakh middle income families will benefit during 2020-21.
The entire PDS population (100%) will be on the system by March 2021. "Moreover, the total outstanding from PSUs is amounting to approx. She said 8 crore migrant workers who do not have either central or state PDS card, will get 5 kilogram of grains per person and 1 kilogram of ‘chana’ for two months.In order to ensure migrants be able to use their ration cards across states, the finance minister said PDS rations cards will be made portable, adding this would benefit 67 crore beneficiaries or 83 per cent of PDS beneficiaries, in 23 states by August.