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Finance Minister Nirmala Sitharaman addressed a press conference to declare the relief package, estimated to be around 10% of the country's GDP, as proposed by Prime Minister Narendra Modi on Tuesday. She said PM laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society. The package is will spurt growth and to build a very self reliant India. Global tenders to be disallowed in government procurement upto Rs 200 crores, All PSU companies will clear outstanding dues of MSMEs Government to take up PF for firms with 100 staff, earning less than Rs 15,000.

Here are key highlights of FM Sitharaman's announcement
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* Investment limit for MSMEs revised upwards
* Addition criteria of turnover brought in to define MSMEs
* Manufacturing and service-bases MSMEs to now enjoy same benefits
* Definition of MSMEs is changing, which is in favour of the MSMEs

Fund of funds
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* Infusing Rs 50,000 crore equity into MSMEs for those who are viable and eligible
* Corpus of Rs 10,000 crore though mother-fund and daughter-fund framework
* To help MSMEs expand capacity and eventually get listed​

For stressed MSMEs
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* Rs 20,000 crore liquidity through subordinate debt-based scheme
* Govt to provide Rs 4,000 crore to CGTMSE for this

Collateral-free automatic loan for MSMEs
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* Rs 3 lakh crore worth loans
* For those firms with Rs 25 crore outstanding loans or annual turnover is over Rs 100 crores
* 4 -year tenure on the loans
* Moratorium of 10 months to be offered
* 100% credit guarantee to banks and NBFCs on principal and interest
* Offer valid until October 31, 2020
* No fresh collateral required
* No extra fee to be charged
* Rs 3 lakh crore collateral-free automatic loans with tenure of 4 year for MSMEs.
* Today, the tranche has about 15 different measures. Six of which pertain to the micro, small and medium enterprises, two related to Employees' Provident Fund, two related to NBFCs and MFIs, one relates to discom, one to contractors, one to real estate and 3 tax measures, says FM.
* PM Modi is known to take big decisions and his vision will help make India self-reliant (Anurag Thakur)
* The Finance Ministry will be laying out plans for each sector, one-a-day.
* The first step taken by PM was providing a Rs 1.70 lakh crore PM Garib Kalyan Yojana scheme for welfare of poor, says Anurag Thakur.
* FM lists reforms by the Govt so far: Direct Benefit Transfer given the Jan Dhan, Aadhaar, Mobile (JAM), PM Awaaz, Ujjwala, Microfinance schemes, Swachh Bharat, Ayushman Bharat.
* Food security, cash transfers part of package, says FM.
* All the successful measures taken by this government over the two tenures have been reform-driven.
* Five pillars of 'Atmanirbhar Bharat- economy, infrastructure, system, demography and demand, says Finance Minister Nirmala Sitharaman.
* Global value chain integration is a part of vision which PM Modi has put in front of us. The vision includes a confident nation. India shall continue contributing to the globe, she said.
* Land, labour, liquidity, law, and enterprise are factors of production for 'Self-reliant India', said Sitharaman.