India’s Finance Minister Nirmala Sitharaman on Wednesday unveiled PM Narendra Modi’s Rs 20 lakh crore special economic package announced on Tuesday.

Here are the key announcements:

• Endorsing a special package to support and facilitate the Micro, small and medium enterprises (MSMEs), the FM announced loans over Rs 3 lakh crore.

• FM also announced ₹90,000 crore liquidity injection for the fund-starved electricity distribution companies (discoms).

• Sitharaman also endorsed that the Provident Fund contribution of employers and workers is being reduced from 12% to 10% each of wages for the next 3 months.

• She further stated that the Due date of all income tax returns for the Financial year 2019-20 will be extended from July 31, 2020, to October 31, 2020, and tax audit date extended from September 30, 2020, to October 31, 2020.

• In order to provide relief to the real estate developers, Finance minister Nirmala Sitharaman said that the urban development Ministry will issue advisory to states in order to treat COVID-19 as force majeure.

• Sitharaman also announced ₹30,000 cr special liquidity scheme for NBFCs, housing finance companies and MFIs. She said that the scheme will benefit the earlier initiatives of the government and the RBI to increase liquidity.

• She emphasised on the reduction of statutory EPF contribution, which will further increase take-home pay and also help to increase liquidity.

• The FM also states that for the next few days, she will release details of the vision which Prime Minister Modi has expressed yesterday in his speech.