The Finance minister Nirmala Sitharaman rolled out the 20 lakh crore economic package as announced by PM Modi. The finance minister said that the idea of the package is to spur growth. She also said that the idea is to make ‘Atmanirbhar Bharat’ that is self-reliant India.

Essentially this is to spurt growth and to build a very self reliant India and that is why this whole initiative is called #AtmanirbharBharatAbhiyan: Finance Minister Nirmala Sitharaman. #EconomicPackage pic.twitter.com/Z2VLTpH8i4
— ANI (@ANI) May 13, 2020

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Five pillars of 'Atmanirbhar Bharat- economy, infrastructure, system, demography and demand: Finance Minister Nirmala Sitharaman. #EconomicPackage pic.twitter.com/F3mA4QHZgN
— ANI (@ANI) May 13, 2020

“PM laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society“, said the Minister at the start of her interactions today. Atmanirbhar (self-reliant) India does not mean India is to be an isolationist country said the minister.

Atmanirbhar (self-reliant) India does not mean India is to be an isolationist country: Finance Minister Nirmala Sitharaman pic.twitter.com/PdFq5EWhYx
— ANI (@ANI) May 13, 2020

Beginning today, over the next few days we will come before you (media) with team to put forth PM's vision: Finance Minister Nirmala Sitharaman. #EconomicPackage pic.twitter.com/t6NeWG31Ds

— ANI (@ANI) May 13, 2020

The announcements would be done one by one starting from today based on sector revealing the benefits for them out of the 20 lakh crore package. Today benefits were announced for Micro, Small, and Medium (MSMEs) Industries.

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Here are some key announcements made today by the finance minister:

Finance Minister @nsitharaman big announcement for MSMEs. #COVID19Pandemic pic.twitter.com/yuhprh8iOo
— NDTV (@ndtv) May 13, 2020

In a major initiative, we announce Rs 3 lakh crores collateral-free automatic loans for businesses, including SMEs. Borrowers with up Rs 25Cr outstanding and Rs100 Cr turnover are eligible: Finance Minister Nirmala Sitharaman #EconomicPackage pic.twitter.com/56YHRLl1bz
— ANI (@ANI) May 13, 2020

Rs 18,000 cr refunds given to tax payers; 14 lakh taxpayers benefitted from clearing of refund dues, says FM
— Press Trust of India (@PTI_News) May 13, 2020

FM Minister announces collateral free automatic loan facility of Rs 3 lakh crores to MSMEs. Loans will have a four year tenure with 100% guarantee. Available till 31 Oct, 2020. #NirmalaSitharaman #AatmaNirbharBharatAbhiyan
— Live Law (@LiveLawIndia) May 13, 2020

Government to provide stressed MSMEs with equity support; Government will facilitate the provision of Rs. 20,000 Crores as subordinate debt: Finance Minister Nirmala Sitharaman pic.twitter.com/zDAB6O5TrV
— ANI (@ANI) May 13, 2020

This will enable 45 lakh MSME units to resume business activity and also safeguard jobs: FM Sitharaman https://t.co/q6zsXOEYt6
— ANI (@ANI) May 13, 2020

Rs 50,000 cr. Equity infusion for MSMEs through Fund of Funds; to be operated through a Mother Fund and few daughter funds; this will help to expand MSME size as well as capacity. #AtmaNirbharBharatAbhiyan #atmanirbharbharat pic.twitter.com/Y5FMC4TouI
— PIB India (@PIB_India) May 13, 2020

Rs 20,000 cr subordinate debt for stressed MSMEs to be provided; 2 lakh MSMEs to benefited: FM
— Press Trust of India (@PTI_News) May 13, 2020

Definition of MSMEs gets a revision, Investment limit to be revised upwards, additional criteria of turnover also being introduced#AatmanirbharBharat pic.twitter.com/euRNgiPJeB
— PIB India (@PIB_India) May 13, 2020

Global tenders to be disallowed in Government procurement up to Rs 200 crores. This will make self-reliant India, will also then be able to serve 'Make in India': Finance Minister Nirmala Sitharaman pic.twitter.com/X8oi6RifVK
— ANI (@ANI) May 13, 2020

Govt of India and Central Public Sector Enterprises will honour every MSME receivable in the next 45 days: Finance Minister Nirmala Sitharaman pic.twitter.com/UWK3ZgIioP
— ANI (@ANI) May 13, 2020

To ease financial stress as businesses get back to work, Government decides to continue EPF support for business & workers for 3 more months providing a liquidity relief of Rs 2,500 crores: FM Nirmala Sitharaman pic.twitter.com/Pyt511iroh
— ANI (@ANI) May 13, 2020

In order to provide more take home salary for employees and to give relief to employers in payment of PF, EPF contribution is being reduced for businesses & workers for 3 months, amounting to liquidity support of Rs 6750 crores: FM https://t.co/hn4N8oGcAB pic.twitter.com/gIFqHv1oqH
— ANI (@ANI) May 13, 2020

Government launches a Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies: FM Sitharaman pic.twitter.com/G4y4mmyeHI
— ANI (@ANI) May 13, 2020

RS 90,000 crore liquidity injection for Power Distribution Companies (DISCOMs): Finance Minister Nirmala Sitharaman pic.twitter.com/pYn2D4DTgK
— ANI (@ANI) May 13, 2020

In a major relief to contractors, all Central agencies to provide an extension of up to 6 months, without cost to contractor, to obligations like completion of work covering construction and goods and services contracts: Finance Minister Nirmala Sitharaman pic.twitter.com/xkdsKobK3Z
— ANI (@ANI) May 13, 2020

Ministry of Housing to advise States/UTs &their Regulatory Authorities to extend registration&completion date suo-moto by 6mnts for all registered projects expiring on or after 25Mar,2020 without individual applications.Treat COVID-19 as an event of 'Force Majeure' under RERA:FM pic.twitter.com/FkocypN8D8
— ANI (@ANI) May 13, 2020

TDS/TCS rates to be reduced by 25% till March 31, 2021: FM pic.twitter.com/kRdS7yG3T9
— ANI (@ANI) May 13, 2020

Due date for Income Tax returns for the year 2019-2020 now being extended from 31st July and 31 Oct to 30 November 2020: FM Sitharaman pic.twitter.com/CtGrhwLScO
— ANI (@ANI) May 13, 2020

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