Nirmala Sitharaman addressed a press conference on Friday
Finance Minister Nirmala Sitharaman on Friday addressed a press conference, announcing measures to revive the economy amid a slowdown. Job losses have been reported in various sectors following a slowdown. The worst hit is the auto sector, where thousands of job losses have been reported after months of dismal sales. "I want to give you a picture of what is happening globally. Global growth is 3.2 per cent, likely to be revised downwards. Many organizations say the global demand is very weak," she said in her opening remark. She later announced a host of measures to boost sales in the auto sector, including lifting the ban on its departments from replacing the old vehicles.
Here are the highlights of Nirmala Sitharaman's press conference:
New Announcements Next Week: Nirmala Sitharaman
Next week, the government will be coming with one more set of announcement: Nirmala Sitharaman
The government will consider several policies like the scrappage policy: Nirmala Sitharaman
Additional 15% (Total 30%) depreciation on all vehicles till 31.03.20: Nirmala Sitharaman
Revision Of One-Time Registration Deferred: Nirmala Sitharaman
Revision of one-time registration fee put off till June 2020: Nirmala Sitharaman
Nirmala Sitharaman's Announcement On BS-IV Vehicles
BS-IV vehicles purchased till 31.3.20 to remain operational till the period of registration: Nirmala Sitharaman
Delayed payments to infrastructure companies to be reviewed: Nirmala Sitharaman
An organization to be set up to provide credit enhancement for infrastructure and housing: Nirmala Sitharaman
All pending GST refunds due to MSMEs will be paid in 30 days from today. In future, every refund will be paid 60 days: Nirmala Sitharaman
Online tracking of loan applications by customers: Nirmala Sitharaman
Upfront, we are releasing Rs 70,000 crores as additional lending and liquidity: Nirmala Sitharaman
We will set up a cell, led by member of CBDT, for addressing problems of startups. Startups with an I-T issue can approach this panel: Nirmala Sitharaman
Nirmala Sitharaman Announces Repo-Rate Linked Interest Rates
Banks have decided to launch repo-rate linked interest rates - means reduced EMI housing loans, working capital to be cheaper: Nirmala Sitharaman
To reduce harassment and bring in efficiency, loan documents have to be returned in 15 days of loan closure: Nirmala Sitharaman
Online tracking of loan applications by customers: Nirmala Sitharaman
All old I-T notices issued till now will have to be cleared in 1.5 months: Nirmala Sitharaman
Nirmala Sitharaman Announces New Rule For Income Tax Summons
The Income Tax summons will now go through a centralized system: Nirmala Sitharaman
Corporate Social Responsibility (CSR) violations will not be treated as criminal offence: Nirmala Sitharaman
Action will be taken against people, who are gaming the system: Nirmala Sitharaman
Filing returns will be simplified: Nirmala Sitharaman
Tax scrutiny will be randomised from Vijay Dashami day, one odd over-enthusiastic officer won't be able to harass anybody: Nirmala Sitharaman
We have not lost the momentum. We have kept up on labour, tax reforms: Nirmala Sitharaman
I want repeat what PM said - We respect wealth creators: Nirmala Sitharaman
India's growth rate is higher than everybody else, more than US and China: Nirmala Sitharaman
As a result of the US-China trade war and the Chinese currency devaluation, there have been effects worldwide: Nirmala Sitharaman
The US and Germany have seen inversed curves: Nirmala Sitharaman
I want to give you a picture of what is happening globally. Global growth is 3.2 per cent, likely to be revised downwards. Many organizations say the global demand is very weak: Nirmala Sitharaman said.