Power Distribution Companies:
o As these companies are facing an unprecedented cash flow crisis and thus will receive Rs. 90,000 crore liquidity injection.
Real Estate and Contractors:
o Contractors (those dealing with the construction/ works and goods and services contracts) will get a six month extension for completion of work from all Central agencies, and also get partial bank guarantees to ease their cash flows.
o Registered real estate projects will get a six-month extension for registration and completion of Real Estate Projects under Real Estate (Regulation and Development) Act (RERA) with Covid-19 to be treated as a “force majeure” event.
• A Force Majeure (FM) means extraordinary events or circumstances beyond human control such as an event described as an Act of God (like a natural calamity).
Global Tenders to be Disallowed:
o Indian MSMEs and other companies have often faced unfair competition from foreign companies and would be difficult to compete in the future due to Covid-19 pandemic.
o Therefore, global tenders will be disallowed in government procurement tenders upto Rs 200 crores.
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