Nirmala Sitharaman addressed a press conference on Friday

Finance Minister Nirmala Sitharaman on Friday addressed a press conference, announcing measures to revive the economy amid a slowdown. Job losses have been reported in various sectors following a slowdown. The worst hit is the auto sector, where thousands of job losses have been reported after months of dismal sales. "I want to give you a picture of what is happening globally. Global growth is 3.2 per cent, likely to be revised downwards. Many organizations say the global demand is very weak," she said in her opening remark. She later announced a host of measures to boost sales in the auto sector, including lifting the ban on its departments from replacing the old vehicles.

Here are the highlights of Nirmala Sitharaman's press conference:

Aug 23, 2019 18:17 (IST) New Announcements Next Week: Nirmala Sitharaman

Next week, the government will be coming with one more set of announcement: Nirmala Sitharaman

Aug 23, 2019 18:15 (IST) The government will consider several policies like the scrappage policy: Nirmala Sitharaman

Aug 23, 2019 18:13 (IST) Additional 15% (Total 30%) depreciation on all vehicles till 31.03.20: Nirmala Sitharaman

Aug 23, 2019 18:10 (IST) Revision Of One-Time Registration Deferred: Nirmala Sitharaman

Revision of one-time registration fee put off till June 2020: Nirmala Sitharaman

Aug 23, 2019 18:09 (IST) Nirmala Sitharaman's Announcement On BS-IV Vehicles

BS-IV vehicles purchased till 31.3.20 to remain operational till the period of registration: Nirmala Sitharaman

Aug 23, 2019 18:06 (IST) Delayed payments to infrastructure companies to be reviewed: Nirmala Sitharaman

Aug 23, 2019 18:05 (IST) An organization to be set up to provide credit enhancement for infrastructure and housing: Nirmala Sitharaman



Aug 23, 2019 18:02 (IST)

Broad basing & deepening bond markets in India a credit enhancement organization for infra & housing projects; further development of Credit Default Swap markets & alignment of bond market regulations with international best practices #GovtBoostsEconomy@PMOIndia@FinMinIndiapic.twitter.com/vDLPJgtcCS - Rajeev kumar (@rajeevkumr) August 23, 2019

Aug 23, 2019 17:58 (IST) All pending GST refunds due to MSMEs will be paid in 30 days from today. In future, every refund will be paid 60 days: Nirmala Sitharaman

Aug 23, 2019 17:51 (IST) Online tracking of loan applications by customers: Nirmala Sitharaman

Aug 23, 2019 17:50 (IST) Upfront, we are releasing Rs 70,000 crores as additional lending and liquidity: Nirmala Sitharaman

Aug 23, 2019 17:49 (IST) We will set up a cell, led by member of CBDT, for addressing problems of startups. Startups with an I-T issue can approach this panel: Nirmala Sitharaman



Aug 23, 2019 17:47 (IST) Nirmala Sitharaman Announces Repo-Rate Linked Interest Rates

Banks have decided to launch repo-rate linked interest rates - means reduced EMI housing loans, working capital to be cheaper: Nirmala Sitharaman

Aug 23, 2019 17:47 (IST) To reduce harassment and bring in efficiency, loan documents have to be returned in 15 days of loan closure: Nirmala Sitharaman





Aug 23, 2019 17:46 (IST) Online tracking of loan applications by customers: Nirmala Sitharaman

Aug 23, 2019 17:45 (IST)

Making India a hub for #StartUps. Withdrawal of Sec 56(2)(viib) of IT Act Dedicated cell at CBDT for addressing challenges of startups; Sec 56(2) (vii)(b) to not apply to DPIIT registered startups; @PMOIndia@FinMinIndia@PIB_India#GovtBoostsEconomypic.twitter.com/TmnRyrSoBs - Rajeev kumar (@rajeevkumr) August 23, 2019

Aug 23, 2019 17:39 (IST) All old I-T notices issued till now will have to be cleared in 1.5 months: Nirmala Sitharaman

Aug 23, 2019 17:38 (IST) Nirmala Sitharaman Announces New Rule For Income Tax Summons

The Income Tax summons will now go through a centralized system: Nirmala Sitharaman

Aug 23, 2019 17:37 (IST) Corporate Social Responsibility (CSR) violations will not be treated as criminal offence: Nirmala Sitharaman

Aug 23, 2019 17:36 (IST) Action will be taken against people, who are gaming the system: Nirmala Sitharaman

Aug 23, 2019 17:35 (IST) Filing returns will be simplified: Nirmala Sitharaman

Aug 23, 2019 17:35 (IST) Tax scrutiny will be randomised from Vijay Dashami day, one odd over-enthusiastic officer won't be able to harass anybody: Nirmala Sitharaman

Aug 23, 2019 17:34 (IST) We have not lost the momentum. We have kept up on labour, tax reforms: Nirmala Sitharaman

Aug 23, 2019 17:30 (IST) I want repeat what PM said - We respect wealth creators: Nirmala Sitharaman



Aug 23, 2019 17:29 (IST) India's growth rate is higher than everybody else, more than US and China: Nirmala Sitharaman

Aug 23, 2019 17:25 (IST) As a result of the US-China trade war and the Chinese currency devaluation, there have been effects worldwide: Nirmala Sitharaman

Aug 23, 2019 17:25 (IST) The US and Germany have seen inversed curves: Nirmala Sitharaman