Finance Ministry releases Rs 17,287 cr to 14 states under Disaster Management Relief Fund

In an effort to combat Coronavirus crisis in country, Finance Ministry on Friday released a total of Rs 17,287.08 crore for different states to enhance ir financial resources under SDRMF. amount includes Rs 6,195.08 crore on account of ‘revenue deficit grant’ under 15th Finance Commission recommendations to 14 States. This comes after total number of active COVID-19 cases have soared above 2000 while 56 deaths have been reported in country so far. 

Finance Minister Nirmala Sitharaman on Friday stated, "se states are Andhra Presh, Assam, Himachal Presh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nu, Tripura, Uttarakhand & WB. Remaining Rs 11,092 crore is for all states as vance payment of Central share of 1st instalment of SDRMF."

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MHA releases Rs 11,092 crores

Earlier in day, Ministry of Home Affairs also approved release of Rs 11,092 crores under State Disaster Risk Manment Fund (SDRMF) to all states. amount is an vance release of Government's share of first instalment of SDRMF for year 2020-21. 

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Ministry Of Finance brings in ordinance

Ministry of Finance earlier brought in 'Taxation and or Laws (Relaxation of Certain Provisions) Ordinance, 2020' to give effect to relief measures pertaining to statutory and regulatory compliance anunced on March 24. This provides for extension of time limits under Taxation and Benami Acts. For instance,  date of filing Income Tax returns, Ahar-PAN linking and 'Viv se Vishwas' scheme has been extended until June 30, 2020.  

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Moreover, ordinance has amended Income Tax Act to ensure that same tax treatment is provided to PM CARES as available to Prime Minister National Relief Fund. This implies that donation me to PM CARES fund will be eligible for a 100% deduction under Income Tax Act. ditionally, limit on deduction of 10% of gross income shall t be applicable for donation me to PM CARES fund.  

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