New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore of collateral-free loans for small businesses, cut the tax rate for non-salary payments and provided liquidity to non-banking companies to help them tide over the disruptions caused by the lockdown.

Announcing the first set of components of the Rs 20 lakh crore COVID-19 economic stimulus package announced by the Prime Minister Narendra Modi, she said Rs 90,000 crore liquidity infusion will be made in electricity distribution companies to help them fight the current financial stress.