STIMULUS 3.0

Stimulus 3.0 supportive for growth, fiscal impact unclear: Fitch Solutions

Fitch Solutions said the schemes recently announced by the Centre to boost the employment, credit and manufacturing sectors would be supportive to India's economic rebound over the coming quarters, however, the actual impact on public finances is difficult to ascertain

Tax relief may encourage developers to cut prices

The relief will only be available on properties valued up to ₹2 crore and bought in the primary market from a developer

‘Housing for all’ scheme gets ₹18,000 cr

• Separately, the government also offered income tax relief to help builders clear inventory and boost demand from home buyers
• 'A number of measures have been taken in the past several months for revival of the Housing and Real Estate Sector,' said Nirmala Sitharaman

Eye on key support base, govt brings in social sector reforms

• The steps taken to generate jobs, improve infra and housing in villages would enthuse BJP’s vote bank
• The announcement comes just two days after Bihar elections where the BJP-led NDA retained power

Stimulus package: ₹18,000-crore additional outlay for urban housing. Decoded

• This move will help finishing the real estate projects as well as create new jobs

Nirmala Sitharaman announces ₹10,000 crore to boost rural employment

• The ₹10,000 crore is to be funnelled into the rural sector through the Pradhan Mantri Garib Kalyan Rozgar Yojna
• The rural jobs programme is seen as helping in reducing rural distress during the months of the lockdown

Govt’s third stimulus package can potentially backfire for lenders

• While the stimulus totalled ₹2.65 trillion, economists say that the fiscal cost would be less than half of it
• Banks are reluctant to lend as seen from fewer disbursements under the credit guarantee scheme

Stimulus Package 3.0 to help accelerate economic activity, says SIAM

The Stimulus Package 3.0 announced today has specific policy interventions for job creation, credit guarantee and would also be pivotal in de-stressing and accelerating economic activity in many critical sectors, auto body SIAM said

Stimulus package 3.0 to help accelerate economic activity: SIAM

The industry body said it appreciates the proactive role being played by the government for supporting a quick and sustainable revival of the economy

Stimulus package 3.0: Tax sops to cheer real estate builders amid pandemic

• Finance Minister Niramla Sitharaman on Thursday announced several measures to boost demand in the real estate sector
• Today's stimulus package will benefit both the homebuyers and real estate builders, experts say

India Inc says Stimulus Package 3.0 will hasten economic recovery

• Latest measures included additional funding for real estate developers and contractors, fertiliser subsidies, a new employment scheme and additional spending on the rural jobs scheme among other initiatives

Stimulus package: FM releases ₹3,000 cr to EXIM Bank via lines of credit

• Supported projects under the cover are Railways, power, transmission, road and transport, auto and auto components, sugar projects etc, Sitharaman said
• Sitharaman also announced a ₹65,000-crore fertilizer subsidy for farmers as part of her stimulus package to boost the economy

AatmaNirbhar Bharat 3.0: Govt to invest ₹6,000 crore in NIIF debt platform

• NIIF will leverage this equity to raise ₹1.1 trillion over the next five years to finance infrastructure projects under the national infrastructure pipeline

FM Sitharaman announces ₹65,000 cr fertilizer subsidy for farmers

Finance Minister Nirmala Sitharaman ₹65,000 crore is being provided to ensure adequate availability of fertilisers to farmers and to enable timely accessibility of fertilisers in the upcoming crop season

Income tax relief for homebuyers and real estate developers: How it will benefit

• For primary residential real estate sales of up to ₹2 crore, the differential between circle rate and agreement value increased to 20% from 10% earlier

FM announces wage subsidy via EPFO to spur formal employment

EPFO-registered establishments with up to 1,000 workers will get 24% EPF subsidy - 12% of the employers' share and 12% of the employees. It will reduce human resource cost of employers and also boost take-home pay of low wage earners

Govt announces special EPF scheme for those who hire new employees amid COVID-19

• To create more jobs amid coronavirus pandemic, the finance minister on Thursday announced a special scheme Aatma Nirbhar Bharat Rozgar Yojana

Atmanirbhar Bharat stimulus package: FM grants ₹900 cr for Covid vaccine R&D

• Actual cost of vaccine, distribution cost will be separate, Finance Minister Nirmala Sitharaman clarified
• She also said that ₹10,200 crore additional budget outlay will be provided towards capital and industrial expenditure for domestic defence equipment, industrial incentives and infrastructure and green energy

Stimulus package 3.0: Govt extends ECLGS till March 2021

• Original ECLGS had one year of moratorium and 4 years of repayment, the new scheme will have 1-year moratorium and 5 years of repayment
• Companies with dues of ₹50-500 crore as on February 29 are eligible, the finance minister added

Atmanirbhar Bharat 3.0: Govt's credit guarantee support for 26 stressed sectors

• ECLGS is a ₹3 trillion government-backed loan scheme, announced by finance minister Nirmala Sitharaman as part of AtmaNirbhar Bharat package 1.0 in May, for businesses including micro small and medium enterprises