Key takeaways from FM Nirmala Sitharaman's announcement

Key takeaways from FM Nirmala Sitharaman's announcement

Nirmala Sitharaman

In a bid to provide a stimulus to a flagging economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of measures. She said the Indian economy is well on the growth track and looked to quell fears of growth stagnation. 

Sitharaman reiterated the government's commitment towards wealth creators by striving to increase Ease of Doing Business and Ease of Living.

 Here's a lowdown on the Finance Minister's announcements:

1) CSR violations decriminalised; such violations will be treated as civil offences

2) Rs 70,000 crore will be released to PSBs

3) Enhanced surcharge on FPIs and domestic investors, which was introduced in Budget 2019, rolled back

4) Angel tax on startups registered with DPIIT withdrawn

5) Ban on purchase of new govt vehicles withdrawn

6) Home loans, car loans to get cheaper

7) Banks to pass on interest rate cuts to customers in a timely manner

8) All pending GST refunds will be paid in 30 days

9) Bond market to be made conducive for investors

10) I-T notices to be issued through a centralised system