Finance Minister Nirmala Sitharaman on Sunday said the Rs 20 lakh crore economic stimulus package to deal with the fallout of COVID-19 includes Rs 8.01 lakh crore of liquidity measures announced by the Reserve Bank since March.
The stimulus totals to Rs 20.97 lakh crore, she said, adding this also comprises the Rs 1.92 lakh crore package of free foodgrain and cooking gas to poor and cash to some sections announced in March.
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 formalisation 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
The fatality rate is down to 3.1 per cent and the recovery rate has improved to 37.5 per cent, Union Health Minister Harsh Vardhan also added. (READ FULL REPORT)
The Odisha government on Sunday revised the COVID-19 death toll in the state from five to four, saying one person who died the previous day tested negative to the highly infectious virus. The state reported 91 new cases taking the total number of COVID-19 cases to 828. (FULL REPORT HERE)
Measures and reforms announced by the FM today will have a transformative impact on our health and education sectors. They will boost entrepreneurship, help public sector units and revitalise the village economy. Reform trajectories of the states will also get an impetus.
— Narendra Modi (@narendramodi) May 17, 2020
I want to tell the Opposition party that on the issue to migrants we all must work together. We are working with all states on this issue. With folded hands, I ask Sonia Gandhi ji that we must speak & deal with our migrants more responsibly: FM Sitharaman
The stimulus of Rs 1,92,800 crores was given even before the PM spoke of the new economic package: FM pic.twitter.com/mD3P9TPs4w
— ANI (@ANI) May 17, 2020
Centre has decided to increase borowing limit of states from 3% to 5% for FY21. This will give extra resources of Rs 4.28 lakh crore to states: FM
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
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 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, number of enterprises in strategic sectors will ordinarily be only one to four others will be privatized/ merged/ brought under holding companies
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 additional specialized benches for NCLAT Lower penalties for all defaults for Small Companies. One person Companies, Producer Companies & Start Ups.
Debts due to COVID19 will not be included in the category of 'default' ;7 compoundable offences altogether dropped and 5 to be dealt with under alternative framework. The amendment will de-clog the criminal courts and NCLT: Finance Minister Nirmala Sitharaman
Timely action was taken during COVID19 to reduce compliance burden under various provisions of Companies Act. Board meetings were allowed to be online, rights issues can be done digitally, major reform in corporate governance: Finance Minister Nirmala Sitharaman pic.twitter.com/ZgJTyFEmkG
— ANI (@ANI) May 17, 2020
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
The government will now allocate an additional Rs 40,000 crores to MGNREGS to provide employment boost: Finance Minister Nirmala Sitharaman
Budget estimate was Rs 61,000 crores
Additional Rs 40,000 crores allotted
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
The Government is working on a mission mode on the next phase of 'ease of doing business' reforms: Finance Minister Nirmala Sitharaman pic.twitter.com/iQhIDQWPdK
— ANI (@ANI) May 17, 2020
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 alongwith rolling out of teleconsultation services, launch of Arogya Setu app and protection to health care workers with adequate PPEs: FM
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
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
MNREGA
Healthcare & education
Business during Covid
Decrimilisation of Companies Act
Ease of doing business
PSUs and policies
State govt and resources
My one line comment on FM’s fourth tranche:
— P. Chidambaram (@PChidambaram_IN) May 16, 2020
No fiscal measure, ZILCH
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....
The Centre on Saturday announced a slew of reforms which promised to catalyse investment in eight key sectors including defence industries, coal, aviation, power distribution, space and atomic energy. (READ MORE)
