new Delhi : Finance Minister Nirmala Sitharaman on Saturday while talking about economic reforms said that the Modi government has taken steps to improve the economy of the country. Last month, several steps were taken by the government for reform. He also said that the government's focus is on exports and home buyers. He said that it has become easier to do business in the country.
The Finance Minister said that NBFC has got the benefit of Credit Guarantee Scheme. Credit outflows of banks have increased. Also, e-assessment has been implemented in income tax. He also informed that a meeting with PSU banks is also to be held on 19 September.
Nirmala Sitharaman said that now all notices are being implemented through the system. Now small litigation is not being sued for defaulting. The default of up to 25 lakhs will require the approval of 2 big officers. He also said that there are signs of revival of the industry in April-June.
Key things said by the Finance Minister…
– MEIS will be brought in textile by the end of this year.
MEIS new scheme in Goods and Services.
Announcement of new scheme for export.
-Export e-refund applicable till the end of this month.
-RDToP scheme replacing MEIS.
– Duty or tax exemption scheme in exported products.
50,000 crore burden from the new scheme.
4 big shopping festivals in March next year.
The government will organize a mega shopping festival in March 2020 to promote exports.
In the shopping festival, traders of James-Jewelery, Textile, Leather, Tourism, Handicraft sector will be able to connect directly with the big buyer or buyer.
Not only this, the mega annual shopping festival will also play an important role in domestic trade boost.
The government also wants to revive the MSME sector through the shopping festival.
– Action plan to reduce the export duration.
– Assessment scheme will be started in Dussehra.
-Export Finance will work under the supervision of the Inter-Ministerial Group.
Government's big announcement for the real estate sector to overcome the slowdown.
– Government will make provision of special window to promote middle income housing.
Provision of special window to ensure funding to the end.
Government announces Rs 10,000 crore fund for real estate sector.
– Such a housing project which is neither stuck in the NPA nor trapped in the NCLT and at the same time about 60 percent of the work of the project has been completed, now the government will complete such stuck housing project.
-10,000 crore rupees will be funded by the government and about 10,000 crore rupees from other government agencies like LIC, PSB.
ECB guidelines will be easy on Affordable Housing.