All eyes on Finance Minister Nirmala Sitharaman, as she unveils the last tranche of Rs 20 lakh crore stimulus package.
The Finance Minister on Saturday said that
the central government will introduce competition, transparency and private
sector participation in the coal sector and will do infrastructure development
of Rs 50,000 crore.
Earlier on Friday, Sitharaman announced Rs 1
lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers
and Rs 10,000 crore scheme for the formalization of Micro Food Enterprises
(MFEs) under the Rs 20 lakh crore stimulus package.
On Thursday, the Finance Minister announced the
'One Nation One Ration Card', free food grain supply to migrants and creation
of affordable rental housing complexes (ARHC) in urban areas for migrant
workers and poor under the COVID-19 stimulus package.
The announcements came after the Prime
Minister on Tuesday announced the economic package for the country to become
'self-reliant' and deal with COVID-19 crisis
Fourth tranche in a nutshell
- Government lets go of Coal, allows
private players
- Make in India push for defence
- Rationalising air space to reduce flying
time, save fuel
- Air space curbs to be removed
- Tariff policy reform for power
- Pvt sector gets co-pilot seat in space
sector
- Atomic energy reforms....
Garib Kalyan package provided food for poor
PM Garib Kalyan package has been used to provide
food for the poor, despite logistical challenges: Finance Minister Sitharaman
Rs 2,000 transferred to PM kisan beneficiaries
Direct benefit transfer of Rs 2,000 each has been
done to 8.19 crore PM KISAN beneficiaries during lockdown period: FM
7 steps to help businesses and people
Today's announcements will cover seven steps to
help businesses and people
Seven steps include
1. MNREGA
2. Healthcare & education
3. Business during COVID
4. Decriminalization of Companies Act
5. Ease of doing business
6. PSUs and policies
7. State govt and resources
Sitharaman sums up what the government has done so far during the lockdown
20 crore Jan Dhan account holding women got Rs
10,025 crores. 2.2 crore building and construction workers got Rs 3,950 crores.
6.81 crore people got free LPG cylinders and12 lakh EPFO holders got online
withdrawal of advance: FM Sitharaman
For NSAP beneficiaries
NSAP beneficiaries got Rs 1,405 crore in first
installment and Rs 1,402 crore in second instalment, target of Rs 3,000 crore
nearly achieved: Finance Minister Nirmala Sitharaman
Shramik special trains
Shramik special trains were started when it was possible
for workers to move, states were requested to bring workers to stations, 85%
cost was borne by the Central government: Sitharaman
Health-related steps taken to contain COVID19
Government has taken a number of health-related
steps for COVID19 containment. Rs 15000 crore announced for states, essential
items and testing labs and kits along with rolling out of teleconsultation
services, the launch of Arogya Setu app and protection to health care workers with
adequate PPEs
More than Rs 4,113 crores have been
released to states. Insurance cover of Rs 50 lakhs per person has been
announced for healthcare workers and Epidemic Diseases Act was amended for
protection of healthcare workers: Finance Minister Nirmala Sitharaman
Job security for farmers during monsoon
- The budget estimate was Rs 61,000 crores
- Additional Rs 40,000 crores allotted
Rs 40,000 crores allocated to MGNREGS
The government will now allocate an additional Rs
40,000 crores to MGNREGS to provide employment boost: Finance Minister NirmalaSitharaman
Bracing for future health emergencies
- Investments in grass root health
institutions ramp up health and wellness centres in rural and urban areas
- Preparing India for any future pandemics
- Infectious Diseases Hospital Blocks - all districts Strengthening of lab
network and surveillance o Integrated Public Health Labs all districts
& block level Labs & Public Health Unit to manage pandemics.
- Encouraging Research-National
Institutional Platform for One health by ICMR National Digital Health
Mission: Implementation of National Digital Health Blueprint
Top 100 university to start an online course by May 2020
Decriminalization of Companies Act
Debts due to COVID19 will not be included in the
category of 'default' 7 compoundable offenses altogether dropped and 5 to be
dealt with under an alternative framework. The amendment will de-clog the criminal
courts and NCLT: Finance Minister Nirmala Sitharaman
Further key reforms to include
- Direct listing of securities by Indian
public companies in permissible foreign jurisdictions
- Private companies which listed NCDs on
stock exchanges not to be regarded as listed companies
- Including the provisions of Part IXA
(Producer Companies) of Companies Act, 1956 in Companies Act, 2013
- Power to create additionally specialized
benches for NCLAT Lower penalties for all defaults for Small Companies.
One Person Companies, Producer Companies & Start-Ups.
The government will announce a new policy whereby
- List of strategic sectors requiring
presence of PSEs in public interest will be notified
- In strategic sectors, at least one
enterprise will remain in the public sector but the private sector will also
be allowed
- In other sectors, PSEs will be privatized
(timing to be based on feasibility etc.)
- To minimize wasteful administrative
costs, the number of enterprises in strategic sectors will ordinarily be
only one to four others will be privatized/ merged/ brought under the holding
companies
New public sector policy
Government to announce a new public sector policy-
a list of strategic sectors requiring the presence of PSEs in the public
interest will be notified. In strategic sectors, at least 1 enterprise to
remain in the public sector but Pvt sector to be allowed. In other sectors, PSEs to
privatized: FM
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