Nirmala Sitharaman Live Updates, Sitharaman to announce last tranche of economic package, Nirmala Sitharaman Press Conference Live Updates

Press Conference by FM Nirmala Sitharaman Live updates

Nirmala Sitharaman LIVE | Final Tranche of Economic Package: Finance Minister Nirmala Sitharaman’s fifth and last tranche of the Rs 20 lakh crore special economic package focused on the consolidation of PSUs, make the environment conducive for the private companies as to boost ease of doing business, and an additional allocation of Rs 40,000 crore under MNREGA scheme. Besides, the other announcements were related to health, businesses and COVID-19, decriminalisation of Companies Act, and state governments. Under IBC related matters, FM Sitharaman said many businesses have been severely affected by lockdown. The debts related to COVID-19 shall be excluded from defaults under IBC. Also, the minimum threshold to initiate insolvency proceedings has been raised to Rs 1 crore from Rs 1 lakh. Moreover, no fresh insolvency proceeding will be initiated up to 1 year. Government has also decided to increase the borrowing limit of states from 3 per cent to 5 per cent for FY21, which will give an extra resources of Rs 4.28 lakh crore to states. Fm Sitharaman also provided the breakup of nearly Rs 21 lakh crore special economic package. Where the value of the first tranche of the stimulus was Rs 5.95 lakh crore, the second tranche amounts to Rs 3.1 lakh crore and the amount of the third stimulus was Rs 1.5 lakh crore. While the fourth and fifth tranche were equal to Rs 48,000 crore including Rs 40,000 crore additional spending on MNREGA. However, the stimulus from earlier measures were equal to Rs 1,92, 800 crore