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Centre announces Rs 300 cr package for MSMEs, relief for tax payers; Covid tally reaches 74,281

13-05-2020

New Delhi, (UNI)

Union Finance Minister Nirmala Sitharaman on Wednesday announced Rs 300 crore package for MSMEs and a slew of measures for other sectors to give life to economy battered from the impact of coronavirus which even on 50th day of nationwide lockdown infected 3,525 more people and took 122 lives, making India the 12th worst-affected country across the globe with 74,281 cases. 


The measures highlighted by Ms Sitharaman were part Rs 20 lakh crore package announced by Prime Minister Narendra Modi to spur growth and make India self-reliant. 


To support struggling MSME sector, the government announced collateral-free automatic loans worth Rs three lakh crore. It also revised the upward investment limit. 


For taxpayers, the government reduced the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by 25 per cent till March 21, 2021. 



The EPF contribution was also reduced for businesses and workers for three months to 10 per cent from 12 per cent. 


Meanwhile, as per latest update from Union Health Ministry, the total number of coronavirus cases now stands at 74,281, which includes 2,451 deaths and 24,386 recoveries. 


The Centre claimed that doubling rate has improved to 12.6 days in last three days as compared to 11 days earlier. 


On the better side, with 1,031 more patients recovering from the deadly virus, the recovery rate has risen to 32.8 per cent, indicating that almost one-third of the patients could challenge the infection and overcome it. 


The death rate stands at 3.25, as per Health Ministry. 


The virus continuous to transverse fast in Maharashtra as it saw 1,026 new cases and 53 more deaths, bringing the tally to 24,425 while death toll to 53.
Gujarat, at distant second in state-wise tally with 8,903 cases and 537 deaths, recorded 362 new infections and 24 more fatalities. 


Tamil Nadu has jumped to third position, as the tally zoomed to 8,718 with the registration of 716 new cases. Eight more deaths have taken the toll to 61. 

 

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