Siddaramaiah eyes next tranche of economic package; dons economist hat and rubbishes first

Former Karnataka Chief Minister and senior Congress leer Siddaramaiah on Wednesday slammed Centre's relief measures anunced by Finance Minister Nirmala Sitharaman. Taking to Twitter, Siddaramaiah called measures 'disastrous' and said that it does t work in favour of poor migrants, farmers, contract employees and labourers. He furr alleged that most of intended benefits may t even reach recipient. 

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After FM Sitharaman anunced a slew of measures of various sectors including MSMEs, Congress leer stated Centre should have taken measures to pay a part of salaries in MSMEs, which it has done, though t in as direct terms as Siddaramaiah desires. He furr accused government of being igrant of actual spending that is needed to boost consumption in country. He ded that he will be looking forward to next set of measures. 

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FM anunces relief measures 

Union Finance Minister Nirmala Sitharaman on Wednesday unveiled first set of 15 relief measures for various sectors amid COVID-19 lockdown.  measures to revitalise MSME sector include Rs.3 lakh crore collateral-free automatic loans for businesses, including MSMEs, Rs. 20,000 crore subordinate debt for MSMEs, Rs. 50,000 crore equity infusion through MSME Fund of Funds, revising definition of MSMEs and  prohibition of global tenders in government procurement tenders up to Rs.200 crore.

Or measures such as Rs.2500 crore EPF support for business and workers for 3 more months, reduction of EPF contribution for business and workers for 3 months, Rs.30,000 crore liquidity facility for NBFCs/HFCs/MFIs, Rs.45,000 crore Partial Credit Guarantee Scheme 2.0 for NBFCs and Rs.90,000 crore liquidity injection for DISCOMs were also anunced. Furrmore, registration and completion date of all registered projects expiring on or after March 25, 2020, shall be extended suo-moto by 6 months. due date of income tax return, tax audit, assessments, and 'Viv se Vishwas' scheme has also been extended. ditionally, all Central ncies shall provide an extension to construction work, service contracts, etc. by 6 months. 

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