May 12 Atmanirbhar Package of Prime Minister Narendra Modi totaling Rs 20 lakh crore has been a big relief to the economy of our country. The government also took this opportunity to re-package some of the old measures, and push some new reforms such as in agriculture, public sector enterprises, which has been pending for long.
Finance Minister Nirmala Sitharaman on 13 May 2020 gave details of a Rs 20-trillion package to support an economy to contain the coronavirus pandemic. In this article, we have brought you a free ebook on Atmanirbhar Bharat Abhiyan containing each and every detail regarding the economic relief package.
Download the Economic Relief Plan Package PDF here from the link provided below.
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1. Atmanirbhar Bharat Abhiyan Package – Download Free Ebook Here
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2. Economic Relief Package – Pillars of “Atmanirbhar Bharat”
1. Economy- quantum jump not incremental change.
2. Infrastructure- for modern India.
3. System- technology-driven for the 21st century.
4. Demography- vibrant demography as the world’s largest democracy.
5. Demand- optimize demand and supply chain in the economy.
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3. COVID-19 Economic Relief Package Announcements
Here are key highlights from what she said:
- Last set of measures under “Atma Nirbhar Bharat” package
- MNREGA
- Health – rural and urban, including education
- Businesses and coronavirus
- Decriminalization of Companies Act
- Ease Of Doing Business
- Public Sector Enterprises
- State governments and related resources
- Soon after announcing lockdown, the government launched “Garib Kalyan” package to address the demand for food grain for the next 3 months
- 12 lakh EPFO members have benefited from non-refundable advance
- As of May 16, 8.91 crore farmers have received the benefit of PM KISAN scheme
- 6.81 crore free cooking gas cylinders given under PM Ujjwala scheme
- In the last two months:
- Rs 15,000 crore support released to states for healthcare
- Rs 15 lakh per person insurance cover rolled out
- Online education has been taken up in a big way, schools now using technology; another 12 channels to be added
- Timely action already is taken to reduce the compliance burden for corporates under the Companies Act
- Various steps are taken to enhance the ease of doing business
- MEGA: Government to allocate an additional Rs 40,000 crore for MGNREGS, over and above Budget Estimate of Rs 60,000 crore
- Move to benefit migrant workers returning home
- HEALTH: Government to increase public expenditure on health, public health labs to be set up
- EDUCATION: Online education has been taken up in a big way; schools now using technology
- Government to facilitate technology-driven education via DIKSHA under the e-Vidhya initiative
- Government to launch one committed TV channel for each of the 12 classes
- BUSINESSES: New Insolvency and Bankruptcy Code (IBC) proceedings suspended for one year; no fresh action for a year due to coronavirus
- Debts related to coronavirus pandemic not to be included in default category under Insolvency and Bankruptcy Code for one year
- The minimum threshold for initiating IBC proceedings already raised from Rs 1 lakh to Rs 1 crore
- EASE OF DOING BUSINESS: All sectors to be opened to private companies
- PUBLIC SECTOR ENTERPRISES: At least 1 public sector enterprise to be present in sectors, the private sector to be allowed to play its role
- Policy to categorize strategic sectors, concerned public sector companies to be notified
- STATE GOVERNMENTS: Borrowing limit for states raised to 5% from 3%
- RBI already increased states’ ways and means advances by 60%
- Part of borrowing to be linked to specific reforms; a portion of additional limit for specific state-level reforms
- The break-up of announcements made in each of five “Atma Nirbhar Bharat” package tranches:
- First: Rs 5,94,550 crore
- Second: Rs 3,10,000 crore
- Third: Rs 1,50,000 crore
- Fourth and fifth: Rs 48,100 crore
- Earlier government measures including PM Garib Kalyan scheme: Rs 1,92,800 crore
- RBI measures (actual): Rs 8,01,603 crore
- Total: Rs 20,97,053 crore
Source: NDTV
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This was all from us in this blog, Atmanirbhar Bharat Abhiyan Package free ebook. Download the free ebook here. Keep visiting this page to get more E-books on Static GK, Banking awareness, and Current Affairs for free.
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Dikshant (DJ) is an engineer turned banker. He has cleared many competitive exams before his current placement. Being an officer in the bank, DJ is super busy but makes sure that he always finds time for writing informative & exam-oriented content to help students in cracking competitive exams such as SBI, IBPS, SSC, JAIIB/ CAIIB and many more.
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