Union Finance Minister Nirmala Sitharaman announced stimulus measures under the government’s Atmanirbhar Bharat Package 3.0. The Centre announced the measures to boost the real estate and infrastructure sectors.
The FM also announced equity infusion in NIIF Debt Platform. An amount of Rs 6,000 crore of equity will be provided to the debt platform. By 2025, they will provide infra project financing worth around Rs 1,10,000 crore.
The Minister announced performance security on contracts to be reduced to three per cent instead of five to 10 per cent. Moreover, EMD will not be required for tenders and will be replaced by Bid Security Declaration. Relaxations will be given till 31 December 2021 under General Financial Rules.