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Union Finance Minister Nirmala Sitharaman will speak to the media again at 4 p.m. Thursday. This occurs a day after she held a press conference and shared details of the stimulus package on Wednesday.
On Wednesday, the finance minister said that, in the coming days, his team will go to the media to present the prime minister’s vision and share more details about the economic package.
Sitharaman announced on Wednesday a series of measures under the economic package that, according to her, would instill vigor in the economy and benefit various economic sectors.
Also read: Sitharaman announces boost to MSMEs; EPF support to workers, companies
TDS, TCS rate for non-salaried payments for the period through March 31, 2021 has been reduced by 25%. The measure will release Rs 50,000 crore, he said. The finance minister announced that the due date for all tax returns has been extended to November 30.
In order to provide more net salary to employees and give relief to employers in the payment of the Provident Fund, the contribution of the Employee Provident Fund Organization (EPF) is reduced for companies and workers for 3 months, equivalent to a liquidity support of Rs 6.75 billion. , announced the finance minister.
Also read: Nirmala Sitharaman Press Conference: Rs 9250 crore relief for provident fund contributors
“The definition of MSMEs has been revised, the investment limit will be revised upwards, additional rotation criteria have also been introduced,” said the finance minister.
The finance minister reiterated the importance of “self-sufficient India” (Atmanirbhar Bharat) in her speech on Wednesday. She said the announcement of the Rs 20 lakh crore economic package for “Atmanirbhar Bharat” is to stimulate growth in the country.
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