COVID-19 update: Relief measures announced by Finance Minister to support Indian economy.

A day after the Prime Minister announced a special economic package, the FM announced multiple relief measures to boost the Indian economy and help revive in these challenging times. The relief measures announced aim to help businesses, including micro, small and medium enterprises recover from the economic impact of the COVID-19 pandemic and “getting back to work.” Further, the hardship of individuals was also recognised, and consequent suitable relief measures were announced. Effort to strengthen Non-Banking Finance Institutions, Housing Finance Companies, Micro Finance Sector and Power Sector were also announced. In addition, tax relief to businesses, relief from contractual commitments to contractors in public procurement and compliance relief to the real estate sector were also covered.

This podcast is based on the information released by the Press Information Bureau. It is recommended that implementation decisions be taken after reviewing the necessary notifications and/ or required legislative amendments giving effect to these announcements.

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