New Delhi:The markets and industries are keenly watching Nirmala Sitharaman as she is addressing a press conference in midst of an economic slowdown. The finance minister’s presser comes at a time when India’s auto, textile and real estate sectors are suffering major job cuts.
The industry is hopeful that Nirmala Sitharaman will throw a lifesaving boat to the sinking sectors.
To boost the auto sector, the government lifts the ban on government bodies from replacing the old vehicles. “Go and replace all your old vehicles,” the finance minister tells government bodies.
For infrastructure: Rs 100 lakh crore to be pumped in for infrastructure. A task force constituted to expedite the investment, task force funding the money and monitoring the process. Delay in the payment to be resolved on priority. Secretary expenditure, to look into it. Liquidity flow to be smoothened.
GST refund for MSME will be time-bound now. All pending refund to be within 30 days from today. From now, for future GST refund, will be sorted within 60 days.
Within 15 days of closure of the loan amount, all papers to be given back to the customers. Banks to improve OTS settlement (One-time loan settlement), which will help MSME, by adopting check-box system, says FM