FM Nirmala Sitharaman announces relief measures for the common man amid COVID-19 outbreak

As India continues to battle with Coronavirus pandemic, Union Finance Minister Nirmala Sitharaman on Tuesday anunced several relief measures for common man and corporate sector. In a major relief, finance minister extended Ahar-PAN linking deline to June 30, 2020, and also last date to file IT returns and composition returns to June 30. Sitharaman also anunced that Centre would soon unveil a financial relief pack. 

Furrmore, Debit cardholders can withdraw cash from any bank’s ATM free of charge for next three months and re will also be minimum balance requirement. Bank charges for digital tre and transactions will be reduced. Meanwhile, delayed payment interest rate on I-T returns has been reduced from 12% to 9% and interest, late fee, penalty to be charged for companies that have less than Rs.5 crore turver. 

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Coronavirus crisis in India

As of date, 505 positive cases have been reported of pandemic Coronavirus (COVID-19) with Maharashtra reporting highest at 107. Ten deaths have been reported to date. India has suspended all visas and barred travel from Afghanistan, Philippines, EU, UK, China, Malaysia and mandatory 14-day quarantine from several or countries and shut down over 75 districts across nation. 

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India has also closed India-Pakistan border and restricted passenger movement at border with Banglesh, Bhutan, Nepal, and Myanmar. government is monitoring all suspected cases and issued preventive visories with Bihar, Jharkhand, Karnataka, Maharashtra, Assam, Delhi, Kerala, Jammu - Kashmir declaring disease an epidemic shutting down all educational institutions, monuments, parks, gyms, swimming pools, pubs and banning large garings.

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