A day after Prime Minister Narendra Modi announced an economic stimulus package of Rs 20 lakh crore to shore up the economy battered by the COVID-19 outbreak, Finance Minister Nirmala Sitharaman on May 13 disclosed the blueprint of the mega package. Today’s announcements (other measures will be announced over the next few days) were aimed at alleviating the stress in sectors such as micro, medium and small enterprises (MSMEs), power discoms and real estate. The Finance Minister’s announcements also aimed at improving the sagging morale of India’s workforce, facing the brunt of slowing economy and muted corporate earnings. In today’s announcement, the measures pertained to MSMEs; Employees’ Provident Fund; non-banking finance companies (NBFCs), housing finance companies (HFCs) and micro-finance institutions (MFIs); discoms, real estate and three tax measures.

(Moneycontrol)