THESE are the main points of finance ministry's announcement
Union finance minister Nirmala Sitharaman addressed the media on the state of the Indian economy along with top finance ministry officials here on Friday.
New Delhi, Aug 23: Union finance minister Nirmala Sitharaman addressed the media on the state of the Indian economy along with top finance ministry officials here on Friday.
Here are some of the main points from her address:
1. The government has withdraws enhanced surcharge on FPIs.
2. There is some good news in store for public sector banks. The government has a Rs 70,000 crore package for them.
3. Surcharge has been withdrawn from capital gains.
4. CSR violation will no longer be a criminal matter.
5. The ministry also announced Rs 5 lakh crore liquidity infusion for banks.
6. Registered start-ups will not have to pay Angel Tax.
7. Tax will be assessed through a centralised system.
8. Pending GST reform for MSMEs will take place in 30 days.
9. REPO rate cut has been directly linked to bank EMIs.
10. Simplified KYCs for foreign investments.
11. BS-4 vehicles purchased upto 31 March 2020 will remain operational for the entire duration of registration
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