Category: Uncategorized

Rs 90,000 crore Liquidity Injection for DISCOMs

• Revenues of Power Distribution Companies (DISCOMs) have plummeted.• Unprecedented cash flow problem accentuated by demand reduction• DISCOM payables to Power Generation and Transmission Companies is currently ~ Rs 94,000 cr• PFC/REC to infuse...

EPF -Employee Provident Fund Support extended

Employees Provident Fund Support for business and organised workers The scheme introduced as part of PMGKP under which Government of India contributes 12% of salary each on behalf of both employer and employee to...

New Definition of MSME

Definition of MSME will be revised by raising the Investment limit. An additional criteria of turnover also being introduced. The distinction between manufacturing and service sector will also be eliminated. Low threshold in MSME...

Equity Funding Support to MSME

Rs 50,000 cr. Equity infusion for MSMEs through Fund of Funds Govt will set up a Fund of Funds with a corpus of Rs 10,000 crore that will provide equity funding support for MSMEs....

Rs 20,000 crore Subordinate Debt for Stressed MSMEs

Provision made for Rs. 20,000 cr subordinate debt for two lakh MSMEs which are NPA or are stressed. Government will support them with Rs. 4,000 Cr. to Credit Guarantee Trust for Micro and Small enterprises (CGTMSE). Banks are expected to provide...

TDS, TCS rates reduced by 25%

Reduction in Rates of ‘Tax Deduction at Source’ and ‘Tax Collected at Source‘ In the press conference held 13/05/2020, Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman Reduction in Rates of ‘Tax Deduction...