What are the Measures to revive Economic Growth? Talks FM Nirmala Sitharaman

What are the Measures to revive Economic Growth? Talks FM Nirmala Sitharaman

What are the Measures to revive Economic Growth? Talks FMNirmala Sitharaman

Do You Know about this RecentInitiative of Government to Fix the Economic Slowdown? 

Finance Minister Nirmala Sitharamanrecently announced to reevaluate the economy related to exports and homepurchasers. She mentioned six steps to boost exports in annual shoppingfestival like Dubai from the next year and a new auto refund system forexports from next month. 

Thegovernment has stressed a fund of Rs. 20,000 cr. for new home buyers and tocomplete existing projects. The following fund will not cover the projectswhich are already affected by NPA and NCLT issues. People who are purchasinghomes in the NCR region are most affected by the defaulting of JaypeeInfratech, Amrapali, and Unitech in housing projects.

Key points and focuses to improve economy.

  • Funding Rs. 20,000 cr. In real estate- There will be a special window for middle income and economical housing to revive obstructed projects.
  • The government, as well as outside investors, will contribute Rs. 10,000cr.
  • Their main focus will be on unfinished projects and there will be a special window for last-mile funding for housing projects only for those which are not affected by NCLT and NPA.
  •  Interest rates on building houses will be less to encourage government employees to buy new homes.
  •  For better and affordable housing, the guidelines of real estate external commercial will be relaxed.
  •  Investment in stress funds for the industry will be done by LIC and NIIF.
  •  Annual mega shopping festivals like Dubai will be organized at different places around India by March of next year.
  • Leather, Textile, Yoga, and Tourism will be the major themes for shopping festivals.
  • Revised scheme for exporters- Cancellation of taxes or export duties.
  •  After December, MEIS (Merchandise Exports from India Scheme) will not continue.
  • Old  schemes in textile of Merchandise Exports from India Scheme(MEIS) and ROSL will work till December 31, 2019
  •  There will be a fully automated refund for the input tax credit for GST and it will be applied by the end of September 2019
  • Finances of exports to be measured actively.
  • An internal ministerial group will examine and monitor dashboard of credit movement of exporters.
  • New technology will be purchased for timely completion of the current processes and to reduce export time.
  • GOI is about to launch FTAUM (Free trade agreement utilization mission)

Statements regarding this matter.

YashwantSinha Slams

People who are in power are making "weird" statements, these will not changethe condition of the economy but it will hamper the image of thegovernment. 

AbhishekManu Singhvi lashed out

BJP isblaming everyone even the voters except how they handle the economy. He alsoquoted, Followers of Modi, has crossed 50 million, Economy will cross $5trillion, but how? Youth are unemployed, are you going to blame the oppositionfor this or OLA and Uber?

Congress

SoFinance Minister is saying that sales of busses and trucks are decliningbecause millennials are not purchasing it as they were doing it before.

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