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Finance Minister announce measures for relief and credit support related to businesses, MSME's - Press Release & PPT   May 13, 2020

Salient Features
   Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs 
● Rs 20,000 crore Subordinate Debt for Stressed MSMEs
● Rs 50,000 crore equity infusion through MSME Fund of Funds
● New Definition of MSME and other Measures for MSME 
● No Global tenders for Government tenders of uptoRs 200 crore Extending the Employees Provident Fund Support for business and organised workers for another 3 months for salary months of June, July and August 2020 
● EPF Contribution to be reduced for Employers and Employees for 3 months to 10% from 12% for all establishments covered by EPFO for next 3 months 
● Rs. 30,000 crore Special Liquidity Scheme for NBFC/HFC/MFIs Rs. 45,000 crore Partial credit guarantee Scheme 2.0 for Liabilities of NBFCs/MFIs 
● Rs 90,000 crore Liquidity Injection for DISCOMs Relief to Contractors given by extension of up to six months for completion of contractual obligations, including in respect of      EPC and concession agreements 
● Relief to Real Estate Projects the registration and completion date for all registered projects will be extended up to six months.
● Tax relief to business as pending income tax refunds to charitable trusts and non-corporate businesses and professions to be issued immediately 
● Reduction in Rates of ‘Tax Deduction at Source’ and ‘Tax Collected at Source” by 25% for the remaining period of FY 20-21  
● Due Dates for various tax relatedcompliances extended  

Text of the Order is attached 


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