Nirav Panchmatia's Blog

MODI means BUSINESS…

MODI Govts Major & proactive boost to INDIAN Economy

This Govt means business…Today (AUG 23rd, 2019) Honourable FM Nirmala Sitharaman came out with major Changes to boost Economy & to stem Economic slowdown …

Brief Summary of various measures announced:

  1. Home & Auto Loans to become cheaper 
  2. Surcharge on FPIs & Domestic Investors removed
  3. No surcharge on Capital  Gains Tax 
  4. On closure of loans you will get back your Original Docs within 15 days 
  5. Rs. 70,000 Cr to be pumped in PSUs immediately 
  6. Rs. 20,000 crores additional liquidity support to Housing Finance Companies (HFCs)
  7. NBFCs may now use AADHAAR Linked KYC
  8. All Pending GST refunds to be cleared within 30 days ; all future refunds to be cleared within 60 day ; this is HUGE
  9. MSME definition revised ; single definition of MSME 
  1. Bond market Reforms with attempt to deepen the bond market 
  2. Access to foreign capital via ADR & GDR made easier 
  3. AADHAR based KYC can be used to open demat account & invest in Mutual Funds 
  4. Offshore Rupee market in domestic Stock Exchange 
  5. INFRASTUCTURE : Delayed payment from Govt to infra players shall be cleared asap & looked into asap & payment released
  6. After Arbitration: 75% of Awards shall be released 
  7. AUTO Sector: BS IV vehicles purchased till 2020 March shall remain operational till registration 
  8. Revision of one time registration: deferred till June 2020
  9. All vehicles acquired from now till Mar 2020 will enjoy additional 15% depreciation 
  10. EVs & Internal Combustion vehicles shall continue to be registered
  11. Govt to lift ban on purchase of new vehicles to replace old ones
  12. Scrappage policy to be revisited

Above Measures will give a Major boost to Indian Economy which was experiencing a slowdown, especially its a Major Positive for AUTO & Infrastructure Sector & to the Stock Markets…

 

Most Importantly these are first set of measures & second set of Measures are expected next week..

To Conclude; Modi Govt surely has its ear on the ground & have proven that they are flexible & willing to adapt, amend & make changes, anything required to boost Economy…


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