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FM announces boost for MSMEs, extends IT returns deadline, cuts TDS and TCS rates by 25%

Sitharaman's press conference comes a day after PM Modi announced USD 265 billion fiscal stimulus to deal with COVID-19 situation in the country. 

Published: 13th May 2020 03:35 PM  |   Last Updated: 13th May 2020 05:54 PM   |  A+A-

Finance minister Nirmala Sitharaman during a press meet in New Delhi

Finance minister Nirmala Sitharaman during a press meet in New Delhi. (Photo | Parveen, Negi, EPS)

By Online Desk

It is the Rs 20 lakh crore package and according to PM Narendra Modi will focus on "land, labour, liquidity and law". The PM has also emphasised that everyone including "small business, migrants, farmers" can expect succour.

As our report had noted Modi's 33-minute message had a few gold nuggets for businesses. First among them is the need to implement big-bang reforms. "We need reforms to bring rational tax system, simpler laws, better infrastructure, strong financial system and attract investment," he said.

With the headlines done, it is on to the Finance Minister to fill the blank page now, as her predecessor P Chidambaram put it.

Over to her:

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