She held a virtual meeting with secretaries of power, mines and atomic energy along with the chairman and managing directors (CMDs) of 10 CPSEs, belonging to these ministries
Announcing support for construction and infrastructure, she said Earnest Money Deposit (EMO) and performance security requirements will be relaxed for government tenders.
Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years.
Minister said the financial inclusion story is not over and banks still have inclusion to carry forward. There are many accounts which are not linked with Aadhaar
Former Finance Secretary said he "did not share a good and productive working relationship" with Sitharaman, who came to the finance ministry "with some pre-conceived notions about me"
She held a virtual meeting with secretaries of coal and petroleum & natural gas, along with the chairman and managing directors (CMDs) of 14 CPSEs belonging to these ministries, an official statement said.
"Just because the Prime Minister and the Finance Minister call these measures an economic stimulus does not mean the economy will obey and get stimulated."
Central public sector enterprises and banks will also follow the cue and give cash in place of leave travel concession (LTC) as travelling during the pandemic is near to impossible.
The loan will have to be spent entirely on new or ongoing capital projects, states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021.
Finance Minister Nirmala Sitharaman said the states which received less apportionment of IGST for 2017-18, the Centre will next week transfer a cumulative Rs 24,000 crore to them
