{"id":86541,"date":"2020-05-14T18:27:57","date_gmt":"2020-05-14T12:57:57","guid":{"rendered":"https:\/\/factly.forumias.com\/?p=15439"},"modified":"2020-05-14T18:27:57","modified_gmt":"2020-05-14T12:57:57","slug":"economic-package-to-make-india-self-reliant-atma-nirbhar-bharat-abhiyan","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/economic-package-to-make-india-self-reliant-atma-nirbhar-bharat-abhiyan\/","title":{"rendered":"Economic Package to make India self reliant: Atma Nirbhar Bharat Abhiyan"},"content":{"rendered":"\n<p><strong>News:<\/strong>Union Finance Minister has announced the first tranche of the Atma Nirbhar Bharat Abhiyan to deal with the COVID-19 pandemic.<\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<p><strong>Key Features of the Package:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Real Estate:<\/strong>The deadline for completion of projects has been extended by up to six months treating the coronavirus outbreak as an event of &#8216;force majeure&#8217; under the realty law RERA.<ul><li>Force majeure refers to extraordinary events and circumstances beyond human control.&nbsp;<\/li><li>It is included in contracts to remove liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.<\/li><\/ul><\/li><li><strong>Income Tax:<\/strong> Tax Deducted at Source(TDS) and Tax Collected at Source (TCS) have been reduced by 25% till 31st March of next year.<\/li><li><strong>Employees Provident Fund(EPF):<\/strong>The<strong> <\/strong>statutory provident fund contribution by both employers and employees has been reduced to 10% of basic wages from the existing 12% for the next three months.<\/li><li><strong>Power distribution companies:<\/strong>Government will infuse liquidity of Rs 90,000 crore to the discoms that got affected due to COVID-19 crisis.<\/li><li><strong>MSMEs:<\/strong><ul><li>Government<strong> <\/strong>will provide \u20b93 lakh crore collateral free loan schemes for businesses especially micro, small and medium enterprises(MSMEs).<\/li><li>Centre will facilitate provision of \u20b920,000 crore as subordinate debt for 2 lakh MSMEs which are stressed or considered non-performing assets.<\/li><li>E-market linkage and Fintech will be used to enhance transaction based lending using the data generated by the e-marketplace.<\/li><li>The definition of an MSME is being expanded to allow for higher investment limits and the introduction of turnover-based criteria.<\/li><li><br><\/li><\/ul><\/li><\/ul>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" width=\"624\" height=\"351\" src=\"https:\/\/lh4.googleusercontent.com\/IKQ22WFAe0dpgKMk1sHA9zzDptnHPO4dhE9HPBvuqFHVFtsC0w2p85i2nX_SzmEN5vGElF5FOejEcc5fP7KGkua6d8AkGzESK8ZZppLJy8LS_7agqCI53vDtymG22gL4ZXblEWZp\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>News:Union Finance Minister has announced the first tranche of the Atma Nirbhar Bharat Abhiyan to deal with the COVID-19 pandemic. Facts: Key Features of the Package: Real Estate:The deadline for completion of projects has been extended by up to six months treating the coronavirus outbreak as an event of &#8216;force majeure&#8217; under the realty law&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/economic-package-to-make-india-self-reliant-atma-nirbhar-bharat-abhiyan\/\">Continue reading <span class=\"screen-reader-text\">Economic Package to make India self reliant: Atma Nirbhar Bharat Abhiyan<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[4107,4111],"class_list":["post-86541","post","type-post","status-publish","format-standard","hentry","category-economy","tag-atma-nirbhar-bharat","tag-economic-package","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86541"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86541\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}