Highlights: Nirmala Sitharaman broadcasts measures below Atmanirbhar 3.Zero to revive financial system

129
- Advertisement -

Union finance minister Nirmala Sitharaman on Tuesday notify the third tranche of Atmanirbhar scheme with a view to revive the Indian financial system which is affected by the coronavirus (Covid-19) pandemic.

During a press briefing this afternoon , she began by saying that the Indian financial system has been witnessing a robust restoration including {that a} stronger development is predicted within the third quarter.

- Advertisement -

She went on to expanded the scope of among the present schemes below Atmanirbhar 1.Zero and Atmanirbhar 2.0.

Thereafter, a complete of 12 bulletins had been made below Atmanirbhar 3.Zero associated to employment technology, manufacturing, housing, analysis and improvement for a Covid-19 vaccine and plenty of others which amounted to 2.65 lakh crores.

Her address comes a day after the Centre permitted a Rs 2 lakh crore production-linked incentive (PLI) package deal to spice up demand in India. Union minister Prakash Javadekar had stated that the aim of the PLI scheme is to make the nation a world manufacturing hub.

Follow highlights of the finance minister’s press briefing right here: 

– Size of stimulus supplied by Centre as a part of bulletins below Aatmanirbhar Bharat 3.Zero quantities to Rs 2.65 lakh crores: Sitharaman

With ending her briefing, Union finance minister Nirmala Sitharaman stated the scale of the stimulus being supplied by the govt, as a part of the 12 bulletins made below the Aatmanirbhar Bharat 3.0, quantities to Rs 2.65 lakh crores. She added 15% of nationwide GDP as stimulus takeaway.

– Rs 900 crore given for Covid-19 vaccine analysis and improvement, says FM

While speaking concerning the vaccine to fight the novel coronavirus (Covid-19), Union finance minister Nirmala Sithraman stated {that a} whole quantity of 900 crores has been supplied for COVID Suraksha Mission for analysis and improvement of the Indian COVID vaccine to the Department of Biotechnology.

-Rs 3,000 crores might be launched to EXIM Bank for promotion of undertaking exports: Sitharaman

“Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc,” Nirmala Sitharaman stated.

-Additional outlay of Rs 10,000 cr to be given below PM Garib Kalyan Rozgar Yojana to spice up rural employment: FM

Apart from incentivising job creation throughout Covid-19 restoration section via the ‘Atmanirbhar Bharat Rozgar Yojana’, the finance minister also stated that an extra outlay of Rs 10,000 crore can be given below the PM Garib Kalyan Rozgar Yojana to spice up rural employment.

-Providing Rs 6000 Crores of Equity to Debt Platform of NIIF: Sitharaman

The Union finance minister stated Rs 6,000 of fairness is being given to the debt platform of National Investment and Infrastructure Fund (NIIF) where non-public fairness participation will even are available. NIIF itself has invested Rs 2,000 Crores, she added.

 

So, by 2025 they should fund tasks to the extent of Rs 1,10,000 Crores. We are creating this avenue for them to do it even via Debt Market: Finance Minister Nirmala Sitharaman https://t.co/PKolD7WiTT

— ANI (@ANI) November 12, 2020

-Nirmala Sitharaman broadcasts revenue tax aid for builders and residential patrons

Sitharaman notify an revenue tax aid for builders and residential patrons with a view to scale back hardships confronted by each residence patrons and builders for clearing unsold stock.

 

For major residential actual property sales, aid on the distinction between circle rate & settlement worth as much as 20% vs 10% earlier. We count on clearance of inventories via this step: FM Nirmala Sitharaman pic.twitter.com/PSJSlGMtVM

— ANI (@ANI) November 12, 2020

– Rs 18,000 cr to be supplied over and above the price range estimate below Pradhan Mantri Awas Yojana for city areas: Sitharaman

Finance minister Nirmala Sitharaman stated a complete quantity of Rs 18,000 Crores might be supplied over and above the price range estimate talked about within the Budget 2020-21 below the Pradhan Mantri Awas Yojana. notably for the city areas.

-10 new champion sectors to be coated below Production Linked Incentives Scheme: FM

With a view to spice up competitiveness of home manufacturing, 10 new Champion sectors will now be coated below the Production Linked Incentives Scheme, Sithraman stated. A complete quantity of Rs 1.46 lakh crore can be given for a similar, she added.

10 new Champion sectors will now be coated below the Production Linked Incentives Scheme to spice up the competitiveness of home manufacturing. It is predicted to provide a major increase to financial development and home employment: FM Sitharaman pic.twitter.com/C50xj3ZOhv

— ANI (@ANI) November 12, 2020

-FM launches credit assure help scheme for healthcare, 26 sectors

Sitharman launched a credit assure help scheme for healthcare and 26 sectors which might be confused due Covid-19 disaster . Entities will get an extra credit as much as 20% of excellent credit and reimbursement might be performed in 5 years’ time (1 yr moratorium + four years reimbursement), she added.

-Existing Emergency Credit Line Guarantee Scheme prolonged until 31st March 2021: Sitharaman

The Union finance minister stated that present Emergency Credit Line Guarantee Scheme which is part of Atmanirbhar Bharat has been prolonged until 31st March, 2021 including that the mortgage is absolutely assured and collateral free.

-‘Scheme being launched to incentivise job creation during virus recovery phase’: Sitharman

Nirmala Sitharaman throughout her press briefing stated {that a} new scheme named ‘Atmanirbhar Bharat Rozgar Yojana’ is being launched to incentivise creation of recent employment alternatives through the coronavirus (Covid-19) restoration section.

 

This scheme might be relevant for these becoming a member of employment in EPFO registered institutions on month-to-month wages much less which than Rs 15,000 per thirty days, she added.

– Rs 1.32 L-cr given to 39.7 lakh taxpayers as Income Tax refunds, says FM

Finance minister Nirmala Sitharman added that Rs 1,32,800 crores has gone as income-tax refunds to 39.7 lakh taxpayers.

-Sitharaman offers particulars about progress of key gadgets below Atmanirbhar Abhiyaan 2.0

The finance minister began discussing the progress of key gadgets below Atmanirbhar Abhiyaan 2.0. Sitharman stated a competition advance has been launched below which SBI Utsav cards are being distributed.

A complete quantity of Rs 25,000 crores has been supplied as further capital expenditure to the ministry of highway transport and the ministry of defence, she added

11 states have been sanctioned Rs 3,621 crores as an interest-free mortgage in the direction of capital expenditure, Sitharaman stated.

-‘Rs 7,227 crores disbursed to NBFCs/HFC’: Finance minister

Nirmala Sitharaman whereas giving particulars of the progress of key gadgets below Rs 7,227 crores stated a complete quantity of Rs 7,227 crores has been disbursed to Non-banking monetary corporations (NBFCs) and Housing finance corporations (HFCs).

She added that below the Emergency Credit Liquidity Guarantee Scheme, a complete quantity of Rs 2.05 lakh crores has been sanctioned to 61 lakh debtors, out of which Rs 1.52 lakh crores has been disbursed.

– Credit increase has been given to 2.5 crore farmers via Kisan Credit Cards, ₹ 1.four lakh crore has been distributed to farmers: Sitharaman

While talking about Kisan Credit Cards, the finance minister help {that a} credit increase has been given to 2.5 crore farmers via these cards and Rs 1.four lakh crores has been distributed to farmers.

– Work has commenced to begin a portal for migrant staff, says Nirmala Sitha
raman

Sitharaman stated the labour ministry together with the finance ministry and different involved ministries are working collectively carefully with the States, and the work has commenced on making a portal for migrant staff.

– Sitharaman offers particulars about progress of key gadgets below Atmanirbhar Abhiyaan 1.0

The finance minister via a presentation gave particulars of progress of some key gadgets below the Atmanirbhar Abhiyaan 1.0. She stated below One Nation-One Ration Card- a complete of 68.6 crore beneficiaries are coated who’ve an choice to raise their meals grains from any FPS of any option within the 28 states and union territories (UTs) introduced below the nationwide portability of ration cards from September 1, 2020.

While giving particulars concerning the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) , she stated round 14 lakh loans have been sanctioned below the scheme for avenue distributors.

– Strong development anticipated in third quarter: Sitharaman

The Union finance minister stated {that a} stronger development is predicted within the third quarter.

– The financial system is seeing a robust restoration, says Nirmala Sitharaman

Union finance minister Nirmala Sitharaman throughout her press briefing stated that the Indian restoration is in a state of robust restoration. The vitality consumption trended larger in October at 12 per cent YoY, she stated. Sitharaman also added that the Goods and Services Tax (GST) collections for October grossed at 1.05 lakh crore- 10 per cent YoY.

-Union finance minister Nirmala Sitharaman begins addressing the press briefing

Union finance minister Niramala Sitharaman began addressing a press briefing this afternoon which comes a day after the Centre permitted a Rs 2 lakh crore production-linked incentive (PLI) package deal to spice up demand in India.

( With ANI inputs)

[Attribution HT]

- Advertisement -