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Indian Finance Minister announces measures taken under Economic stimulus of 20 Lakh Crore.

FM says 15 measures to be announced today. 

- Collateral free loan for MSMEs upto Rs 3 lakh crore.
- MSMEs with Rs 25 Crore outstanding loan or Rs 100 crore turnover can avail.
- 100 percent credit guaranteed (presumably by govt)
- To benefit 45 lakh MSMEs
-Loans will be of 4 year tenure. 12 month moratorium on principal payment. Interest to be capped.

Announcement 2:
-- Rs 20,000 crore subordinate debt programme for stressed MSMEs
-- 2 lakh MSMEs to benefit including stressed / NPAs
-- Govt to provide Rs 4000 crore to the Credit Guarantee fund, which in turn will provide the debt.
Announcement 3: 
-- Fund of funds with corpus of Rs 50,000 crore for equity infusion in MSMEs
Announcement 4:
-- Change in definition of MSMEs
-- Micro: Investment upto Rs 1 cr / turnover upto Rs 5 cr
-- Small: Investment upto Rs 10 cr / turnover upto Rs 50 cr
-- Medium: Investment upto Rs 20 cr / Turnover upto Rs 100 cr
Announcement 5:
-- For govt. procurement, global tenders disallowed for tenders upto Rs 200 crore.
Announcement 6:
-- Within the next 45 days, all MSME receivables will be cleared by Govt / CPSEs.
NEXT SET:
-- Liquidity relief for provident fund. Govt to pay EPF contribution for June-Aug, extending earlier measure. To infuse Rs 2500 crore liquidity.

-- Statutory PF contribution being reduced from 12% to 10%. 
-- For central and state PSUs will continue to 12%. Employees will be given advantage of paying only 10%

NEXT SET: For NBFCs / HFCs / MFIs
-- Rs 30,000 crore special liquidity scheme to buy investment grade debt securities of NBFCs / HFCs/HFCs 
-- Fully guaranteed by GoI (good)
For NBFCs
-- Rs 45,000 crore partial guarantee scheme (existing scheme but expanded.
-- First loss guarantee of 20%. AA rated and below will be included. Unrated paper also eligible for investmen. 

FOR DISCOMs
-- Emergency liquidity injection of Rs 90,000 crore against receivables. Liquidity to be provided by PFC & REC



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