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Nirmala Sitharaman press conference: Fifth tranche of economic package boosts MGNREGA, eases companies acts, promotes e-learning
Union Finance Minister Nirmala Sitharaman on Sunday announced the fifth and final tranche of 20 lakh crore Atmanirbhar Bharat economic package to boost the coronavirus COVID-19-hit economy.
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Image courtesy: Pib Union Finance Minister Nirmala Sitharaman on Sunday announced the fifth and final tranche of 20 lakh crore Atmanirbhar Bharat economic package to boost the coronavirus COVID-19-hit economy.
In the fifth tranche the Finance Minister highlighted measures for doing ease of doing business, promotion of e-learning, help provided to states, support to public an private sectors and highlighted 7 important areas under which the stimulus package is distributed which includes - Mahatma Gandhi National Rural Employment Act, Health (rural and urban) and education, Businesses and COVID, Decriminalisation of business, Ease of doing business, PSU related matters, State government and resources.
The Finance Ministry also presented the entire break up of the Rs 20,97,053 crore package explaining its distribution in different sectors.
On Saturday (May 16), Sitharaman addressed a press conference and unveiled the fourth tranche of government's economic package to provide relief to various segments of the country battered by the coronavirus lockdown.
The third tranche of measures related to Atmanirbhar Bharat was announced by Finance Minister on Friday (May 15). The third tranche was focused on 11 measures. 8 of them related to infrastructure, agriculture and allied activities and the rest three pertained to governance and administrative reforms. The FM 2nd tranche of package laid focus on migrant workers, street vendors, small traders, small farmers and in the first tranche of measures the Finance Minister gave details of 15 new and some enhanced measures to revive businesses. She announced a host of fiscal and regulatory measures for MSMEs, Real Estate, NBFCs, EPF, and Discoms.
During the press conference, Sitharaman announced reforms for eight sectors, namely coal, minerals, defence production, airspace/airport management, aircraft MRO (maintenance-repair-overall), power distribution in union territories, space, and atomic energy.
Thanks for staying with Zee News. Here are all the highlights of the fifth and final tranche of 20 lakh crore package.
Indonesia: Indonesia reported 489 new coronavirus infections on Sunday, taking the total to 17,514. (Reuters report)
West Bengal: Over 300 nurses have quit jobs at private hospitals in Kolkata and left for their homes in Manipur and other parts of country. Association of Hospitals of Eastern India (AHEI) seeks WB Chief Secretary's intervention. (PTI input)
Rajasthan: Buses arranged by Congress party left Alwar carrying migrant workers for Uttar Pradesh.
Rajasthan: Buses arranged by Congress party left Alwar with migrant workers for Uttar Pradesh, earlier today. Congress has arranged 500 buses to transport migrant labourers from Bharatpur & Alwar to Uttar Pradesh. pic.twitter.com/lJEUG5FoqN
— ANI (@ANI) May 17, 2020
Maharashtra extends lockdown till May 31. (Read here )
Corona recovery rate from 1st May till date
May 1: 692 (Recovery Rate :25.63% )
May 2: 953 (Recovery Rate : 26.51%)
May 3: 869 (Recovery Rate : 27.03% )
May 4: 875 (Recovery Rate : 27.45% )
May 5: 1399 (Recovery Rate : 28.17% )
May 6: 1022 (Recovery Rate :28.71% )
May 7: 1084 (Recovery Rate : 28.83% )
May 8: 1273 (Recovery Rate :29.35% )
May 9: 1307 (Recovery Rate : 29.91%)
May 10: 1511 (Recovery Rate : 30.75%)
May 11: 1559 (Recovery Rate : 31.14% )
May 12: 1538 (Recovery Rate : 31.73%)
May 13: 1931 (Recovery Rate : 32.82% )
May 14 : 1849 (Recovery Rate: 33.63%)
May 15 : 1685 (Recovery Rate: 34.06%)
May 16 : 2233 (Recovery Rate: 35.08%)
May 17 : 3956 (Recovery Rate: 37.51%
Maharashtra: 791 cases of COVID-19 reported till date in Nashik, death toll in the district stands at 36. Malegaon reported 617 cases till date.
The stimulus provided in the second tranche of the economic package- Rs 3,10,000 crores: FM Sitharaman
The break up of the first tranche of announcements, amounting to Rs 5,94,550 crores under economic package: FM
The stimulus of Rs 1,92,800 crores was given even before the PM spoke of the new economic package: FM
The overall stimulus package under the Atmanirbhar (self-reliant) Bharat amounts to Rs 20,97,053 crore: Finance Minister Nirmala Sitharaman
The stimulus provided in the fourth & fifths tranches of the economic package amounts to Rs 48,100 crores: FM
The stimulus provided in the fourth & fifths tranches of the economic package amounts to Rs 48,100 crores: FM Niramala Sitharaman pic.twitter.com/keBN7yh0GB
— ANI (@ANI) May 17, 2020
To promote State-level reforms, part of the borrowing will be linked to specific reforms like increasing job creation through investment and promoting urban development, health, and sanitation.
Support extended to state government
To assist States, which are facing a sharp decline in revenues, Government has taken these measures#AatmaNirbharApnaBharat pic.twitter.com/MP9C2kxLRa
— PIB India #StayHome #StaySafe (@PIB_India) May 17, 2020
Centre has decided to accede to the request by States for special increase in borrowing; borrowing limits of States is being raised from 3% to 5%, for 2020-21 only.
States have so far borrowed only 14 percent of the limit which is authorised to them. 86 per cent of the limit remains unutilized. Centre has decided to increase borrowing limits of states from 3 percent to 5 percent of Gross State Domestic Product (GSDP) for 2020-21: FM
Indian public companies can list their securities directly in foreign jurisdictions. Private companies which list Non Convertible Debentures on stock exchanges will not be regarded as listed companies: Finance Minister Nirmala Sitharaman
The states have seen a sharp decline in the revenue, we have consistently extended help to the states. Revenue Deficit Grants to states of Rs 12,390 crores was given on time in April and May despite Centre's stressed resources; devolution of taxes of Rs 46,038 in April given fully: FM
A new AatmanirbharBharat will stand on a new Public Sector Enterprise Policy In strategic sectors, at least one enterprise will remain in the public sector but private sector will also be allowed In other sectors, PSEs will be privatized.
Further key reforms for Ease of Doing Business are in the pipeline including direct listing of securities by Indian public companies in permissible foreign jurisdictions
Further key reforms for Ease of Doing Business are in the pipeline including direct listing of securities by Indian public companies in permissible foreign jurisdictions#AatmaNirbharApnaBharat pic.twitter.com/aXm86XFNrP
— PIB India #StayHome #StaySafe (@PIB_India) May 17, 2020
All sectors will be opened for private sector, new policy will definite strategic sectors: FM
Fresh IBC proceedings suspended for one year: FM
Decriminalisation of Companies Act defaults;7 compoundable offenses altogether dropped and 5 to be dealt with under alternative framework. The amendment will de-clog the criminal courts and NCLT: FM Sitharaman
No fresh insolvency procedure for a year: FM
To prepare India for any future pandemics Government will increase Public Expenditure on Health and invest in grass-root health institutions: FM
I
PM eVIDYA - a programme for multi-mode access to digital/online education to be launched immediately; Top 100 universities will be permitted to automatically start online courses by 30th Ma
India is changing and so is our way of education
PM eVIDYA - a programme for multi-mode access to digital/online education to be launched immediately; Top 100 universities will be permitted to automatically start online courses by 30th May#AatmaNirbharApnaBharat pic.twitter.com/Xm1oFNTG5f
— PIB India #StayHome #StaySafe (@PIB_India) May 17, 2020
100 universities to conduct online classes during lockdown: FM
Radio, Podcast to be used for online education program: FM
Public Health lab to be set up at all block-level: FM
Health-related measures on 20 lakh economic reform package
Government has committed Rs. 15,000 crore for health related measures so far for containment of COVID19 which includes Rs 50 lakh insurance per person for health professionals under #PMGKY#AatmaNirbharApnaBharat pic.twitter.com/ybff37w1NE
— PIB India #StayHome #StaySafe (@PIB_India) May 17, 2020
An additional Rs 40000 crore added to the Rs 61500 crore allotted for Mahatma Gandhi National Rural Employment Act: FM
51 lakh PPE kits supplied from 300 manufacturers. So far, 87 lakh N-95s have been supplied, 11 crore hydro chloro queen has been produced. The companies were given the facility to do AGM through EGM technology. PM Care funds brought under Corporate Social Responsibility: FM
Online education during COVID19: Swayam Prabha DTH channels launched to support and reach those who do not have access to the internet; now 12 channels to be added, says FM Nirmala Sitharaman.
The Government is working on a mission mode on the next phase of 'ease of doing business' reforms: Finance Minister Nirmala Sitharaman
Health workers were given 50 lakh insurance by Centre: FM
Many changes made in the Company's Act to reduce compliance burden on COs: FM
Rs 550 crore spent on coronavirus testing kit: FM
12 more channels were added for online teaching during lockdown: FM
NSAP beneficiaries got Rs 1,405 crore in first installment & Rs 1,402 crore in the second installment, a target of Rs 3,000 crore nearly achieved: Finance Minister Nirmala Sitharaman
Rs 4113 crore released to the state during the pandemic situation: FM
The 20 lakh economic package focus on reforming public sector policies: FM
Rs 15,000 crore spent on COVID containment: FM
FM announces 7 important areas considered in the package
1) Mahatma Gandhi National Rural Employment Act
2) Health (rural and urban) and education
3) Businesses and COVID
4) Decriminalisation of business
5) Ease of doing business
6) PSU related matters
7) State government and resources
85 percent of Shramik train tickets amount paid by Centre: FM
8.1 crore farmers got Rs 16,394 crore under Kisan Yojana. 6.8 crore cylinders distributed under Ujwala Yojana: FM
Rs 10,025 crore given through Jan Dhan account and Rs 3950 crore for building and construction: FM
Reforms to be focus of 5th and final tranche of eco stimulus package, says Finance Minister Nirmala Sitharaman
India will emerge stronger and can tackle this global pandemic. We have helped people with foodgrains. FCI and NAFED have worked tirelessly to make this possible
Nirmala Sitharaman begins address quoting Prime Minister saying this package emphasizes on land, labor liquidity and law.
Nirmala Sitharaman begins address on 5th tranche of Govt's 20 lakh economic reform package.
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