· In the last (i.e. 5th) of Tranches of
the announcements of the “Self
Reliant India Movement”, various Government
Reforms were announced today.
·
Also,
Overall Stimulus by Atmanirbhar Bharat
Package was also presented as under :
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Stimulus
provided by announcements in Tranche 1 (Annexure 1) |
5,94,550 |
|
2 |
Stimulus
provided by announcements in Tranche 2 (Annexure 2) |
3,10,000 |
|
3 |
Stimulus
provided by announcements in Tranche 3 (Annexure 3) |
1,50,000 |
|
4 |
Stimulus
provided by announcements in Tranche 4&5(Annexure 4) |
5,48,100 |
|
Sub Total (A) |
11,02,650 |
|
|
5 |
Stimulus
from Earlier Measures including PMGKP (Annexure 5) |
1,92,800 |
|
6 |
RBI
Measures (Actual) |
8,01,603 |
|
Sub Total (B) |
9,94,403 |
|
|
GRAND TOTAL [(A) +(B)] |
20,97,053 |
|
·
7 steps were
taken under the following matters:
v Mahatma Gandhi National Rural Employment Guarantee
Scheme (MGNREGS).
v Health & Education.
v Insolvency & Bankruptcy Code.
v Companies Act.
v Ease of doing business.
v Public Sector Enterprises related matter.
v State Governments (SGs) and resources related to SGs.
·
Following
measures were announced :
A)
MGNREGS
ü Allocation of additional
Rs. 40,000 crores.
ü Will generate nearly 300 crores person days in total.
ü Creation of larger number of durable and livelihood
assets.
B)
HEALTH &
EDUCATION REFORMS
ü Health related
reforms:
(1)
More
investment by way of ramping up Health
& Wellness Care Centres in rural and urban areas.
(2)
Preparing
India for any future pandemics by
establishing Infectious Diseases
Hospital Blocks, Integrated Public
Health Labs & Public Health Units in all districts.
ü Education
related reforms:
(1)
Launching PM e-Vidya Programme which consists of :
(a)
DIKSHA : e-content and QR coded Energized Textbooks for all
grades (One nation, One digital
platform).
(b)
One earmarked
TV channel per class from 1 to 12 (One
class, One Channel)
(c)
Extensive
use of Radio, Community radio and Podcasts
(d)
Special e-content for visually and hearing impaired.
(e)
Allowing
online courses to Top 100 universities by 30th May, 2020.
(2)
Manodarpan: psychosocial support for mental health and emotional wellbeing of students, teachers and families to
be launched.
(3)
New
National Curriculum and Pedagogical framework for school, early childhood and teachers
will be launched: integrated with global and 21st century skill requirements.
(4)
National
Foundational Literacy and Numeracy Mission for ensuring that every child
attains Learning levels and outcomes in grade 5 by 2025 will be launched by
December 2020.
C)
INSOLVENCY AND
BANKRUPTCY CODE (IBC)
ü Minimum Threshold to initiate insolvency proceeding
raised from Rs. 1 Lakh to Rs. 1 crore.
ü Special insolvency resolution framework for MSMEs to
be notified.
ü No fresh insolvency proceeding to be initiated up to 1
year.
ü Excluding
‘COVID related debt’ from the
definition of ‘Default’.
D)
COMPANIES ACT
ü Decriminalization of Companies Act violations involving minor technical
and procedural defaults (e.g. shortcomings
in CSR reporting, inadequacies in board report, filing defaults, delay in
holding AGM).
ü Majority of the compoundable offences sections to be
shifted to internal adjudication mechanism.
ü 7
compoundable offences altogether
dropped and 5 to be dealt with under alternative framework.
E)
EASE OF DOING
BUSINESS
ü Direct
listing of securities by Indian
public companies in permissible foreign jurisdictions.
ü Private
companies which list Non-Convertible Debentures
on stock exchanges not to be regarded as
listed companies.
ü Provisions of Producer Companies of Companies Act,
1956 to be included in Companies Act, 2013.
ü Power to create additional/
specialized benches for NCLAT.
ü Lower
penalties for all defaults for Small Companies, One person Companies, Producer
Companies & Start Ups.
F)
PUBLIC SECTOR
ENTERPRISES RELATED REFORMS
ü All sectors
are open to the private sector
while public sector enterprises (PSEs) will play an important role in defined
areas.
ü strategic sectors requiring presence of PSEs in public
interest will be notified
ü In strategic
sectors, at least one (max four) enterprise will remain in the
public sector; others will be privatized/ merged/ brought under holding
companies.
ü In other
sectors, PSEs will be privatized (timing to be based on feasibility etc.)
G)
STATE GOVERNMENTS
(SGs) A& RESOURCES RELATED TO SGs
ü Increase borrowing
limits of States from 3% to 5%, for
2020-21 only giving extra resources
to SGs of Rs. 4.28 Lakh crores.
ü Part of the borrowing will be linked to specific
reforms
ü Reform
linkage will be in four areas
(1)
Universalization
of ‘One Nation One Ration card’
(2)
Ease of
Doing Business
(3)
Power
distribution Revenues
(4)
Urban local
body revenues
ü Increase
will be in following pattern :
(a)
0.50% - unconditional
increase.
(b)
1.00% - in 4
Tranches (0.25% each on achieving success in the abovementioned areas)
(c)
0.50% - If 3
out of 4 abovementioned area target are achieved.
Regards,
Kuldeep Diggiwal
+91-7417634371
Note:- Any suggestion/advise is welcomed.
|
Stimulus provided
by announcements in Tranche 1 (Annexure 1) |
||
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Emergency W/C Facility for Businesses, including
MSMEs |
3,00,000 |
|
2 |
Subordinate Debt for Stressed MSMEs |
20,000 |
|
3 |
Fund of Funds for MSME |
50,000 |
|
4 |
EPF Support for Business & Workers |
2,800 |
|
5 |
Reduction in EPF rates |
6,750 |
|
6 |
Special liquidity Scheme for NBFC/HFC/MFIs |
30,000 |
|
7 |
Partial credit guarantee Scheme 2.0 for Liabilities
of NBFCs/MFIs …. |
45,000 |
|
8 |
Liquidity Injection for DISCOMs |
90,000 |
|
9 |
Reduction in TDS/TCS rates |
50,000 |
|
Sub Total |
5,94,550 |
|
|
Stimulus provided
by announcements in Tranche 2 (Annexure 2) |
||
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Free Food grain Supply to Migrant Workers for 2
months |
3,500 |
|
2 |
Interest Subvention for MUDRA Shishu Loans |
1,500 |
|
3 |
Special Credit Facility to Street Vendors |
5,000 |
|
4 |
Housing CLSS-MIG |
70,000 |
|
5 |
Additional Emergency Working Capital through NABARD ……………… |
30,000 |
|
6 |
Additional credit through KCC |
2,00,000 |
|
Sub Total |
3,10,000 |
|
|
Stimulus provided
by announcements in Tranche 3 (Annexure 3) |
||
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Food Micro enterprises |
10,000 |
|
2 |
Pradhan Mantri Matsya Sampada Yojana |
20,000 |
|
3 |
TOP to TOTAL: Operation Greens |
500 |
|
4 |
Agri Infrastructure Fund |
1,00,000 |
|
5 |
Animal Husbandry Infrastructure Development Fund ………….………… |
15,000 |
|
6 |
Promotion of Herbal Cultivation |
4,000 |
|
7 |
Beekeeping Initiative |
500 |
|
Sub Total |
1,50,000 |
|
|
Stimulus provided
by announcements in Tranche 4 & 5 (Annexure 4) |
||
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Viability Gap Funding |
8,100 |
|
2 |
Additional MGNREGS allocation …………………………………………………….. |
40,000 |
|
Sub Total |
48,100 |
|
|
Stimulus provided
by earlier measures (Annexure 5) |
||
|
Sr. No. |
ITEM |
Rupees (In Crores) |
|
1 |
Revenue lost due to tax concessions since Mar 22nd
2020 |
7,800 |
|
2 |
Pradhan Mantri Garib Kalyan Package (PMGKP) …………………………… |
1,70,000 |
|
3 |
PM’s announcement for Health sector |
15,000 |
|
Sub Total |
1,92,800 |
|
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