The Reserve Bank of India announced major steps, adding up to a package of ₹3.74 lakh crores or nearly 4% of the India’s GDP to help India Inc, MSMEs and people at large to tide over the crisis caused by the Covid-19 epidemic sweeping across the world .
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From addressing the concerns of MSME sector to further ensuring that the common man should not face harassment from tax authorities, she has almost touched upon all areas related to Indian economy.
FM asserted that despite all the concerns India continues to hold a good position in comparison to the global economic growth.
She has also assured that the government is constantly taking feedback from business community and monitoring the common concerns of the market and two more set of the announcement may come in future as well.
Government has decided that any CSR violation from hereon will not be a criminal offence but a civil liability.
Checking the arbitrary powers of IT sleuths, Income Tax notices, orders and summons are to be issued by centralised computer system on or after October 01, 2019.
To deepen the bond markets or long-term finance in India, it has been proposed to establish an organisation to provide credit enhancement for infrastructure and housing projects.