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Weekly Financial and Business updates with CA Manoj Lamba

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Published on 19 May 2020 / In Daily Update and Breaking News

Weekly Financial and Business updates with CA Manoj Lamba

1 . PM MODI ADDRESSED THE NATION FIFTH TIME DURING COVID 19 LOCKDOWN 12 MAY 2020

2. THE THEME OF HIS SPEECH WAS AATM NIRBHAR BHARAT ( SELF - RELIANT INDIA)

3. THE PRIME MINISTER SAID BE LOCAL
, BUY LOCAL AND BE VOCAL TO LOCAL

4.THE PRIME MINISTER HAS ANNOUNCED FINANCIAL RELIEF PACKAGE WHICH IS OF 20 LAKH CRORE WHICH IS NEARLY 10% OF INDIA'S GDP

5. THE STIMULUS PACKAGE WILL PROVIDE RELIEF TO MSME INDUSTRY , MIDDLE CLASS TAXPAYERS AND MIGRANT WORKERS

6. IT WILL FOCUS ON LAND , LABOUR,
LIQUIDITY AND LAW

7. INDIA WILL BECOME SELF-RELIANT ON FIVE PILLARS I.E ECONOMY, INFRASTRUCTURE, TECHNOLOGY DRIVEN GOVERNANCE, DEMOGRAPHY AND DEMAND TO ATTRACT INVESTMENT IN INDIA


8. THE PRIME MINISTER ALSO SAID THAT LOCKDOWN 4 WILL BE OUT ON 18TH MAY 2020 AND IT WOULD BE ENTIRELY DIFFERENT IN STYLE AND COLOUR

9. RUPEES 3 LAKH CRORE COLLATERAL FREE AUTOMATIC LOAN FOR BUSINESS INCLUDING MSME

10. RUPEES 20,000 CRORE FOR SUBORDINATE DEPT FOR STRESSED MSME

11. RS 50,000 CRORE FOR EQUITY INFUSION FOR MSME BY FUNDS OF FUNDS

12. NEW DEFINITION OF M S M E HAS BEEN ANNOUNCED

13. GLOBAL TENDERS TO BE DISALLOWED UP TO 200 CRORE

14. E-MARKETING LINKAGES WILL BE PROVIDED TO M S M E

15. ALL GOVERNMENT USE TO M S M E WILL BE RELEASED WITHIN 45 DAYS

16. EPF SUPPORT FOR BUSINESS AND WORKERS OF ELIGIBLE
ESTABLISHMENT BY FURTHER 3 MONTHS

17. EPF contribution reduced for business and workers for 3 months

18. RUPEES 13000 KAROD SPECIAL LIQUIDITY SCHEME FOR NBFC/ HFC AND MFI

19. RUPEES 45000 KAROD PARTIAL CREDIT GUARANTEE SCHEME FOR NBFC

20. RUPEES 19000 CRORE LIQUIDITY INJECTION FOR DISCOM

21. SPECIAL RELIEF TO GOVERNMENT CONTRACTORS

RERA REGISTERED PROJECT WILL BE ALLOWED EXTENSION OF 6 MONTH TO BOOST REAL ESTATE SECTOR

REDUCTION OF TDS TCS RATE BY 25% FOR FINANCIAL YEAR 2020 - 2021

ALL PENDING INCOME TAX REFUNDS IS TO BE
ISSUED IMMEDIATELY

INCOME TAX DEADLINE HAS ALSO BEEN EXTENDED.
TAX AUDIT DATE FOR THE FINANCIAL YEAR 2019 2020 EXTENDED TO 31ST OCTOBER 2020.
VIVAD SE VISHWAS SCHEME HAS ALSO BEEN EXTENDED TO 31ST DECEMBER 2020.
TIME LIMIT FOR FIXING CASES UNDER SCRUTINY HAS ALSO BEEN SUITABLY EXTENDED.


ONE NATION ONE RATION CARD FROM 1 AUGUST 2020

CSD CANTEEN MAY SELL ONLY INDIAN ITEMS

RUPEES TO TRILLION CONCESSIONAL CREDIT TO BE EXTENDED TO FARMERS

GLOBAL BRANDS CONFIDENT OF INDIAN CONSUMER LOYALTY DESPITE PM MODI LOCAL PITCH

BABA RAMDEV YOG GURU STEPS TO START ECOMMERCE PLATFORM TO SELL SWADESHI PRODUCTS WITHOUT ANY FURTHER DELIVERY COST

Government plans to set 12 new education channels to further support school education during lockdown

Government Monopoly in coal sector is to be removed

Sector specific relief for coal, mines , defence, aviation and power and other sector
https://www.youtube.com/channe....l/UCpLA1d2SabkUKkrlz



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