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In his nationwide address on 12 May 2020, Prime Minister Narendra Modi called for Atmanirbhar Bharat Abhiyan, which will focus on making the country self-reliant. He emphasised on the need for going vocal for local, and stated that the scheme will be based on five key pillars: economy, infrastructure, system, vibrant demography and demand.
As part of this scheme, in the next few days, Finance Minister Nirmala Sitharaman will be sharing the details of the economic package of INR 20 lakh crore to boost several sectors adversely impacted by the coronavirus pandemic.
INR 50,000 crore equity infusion through Fund of Funds
INR 2,500 crore support to ease financial stress
INR 30,000 crore special liquidity scheme to be launched
INR 90,000 crore infused; benefits to reach customers via reduced bills
All central agencies to provide no-cost extensions for up to six months
COVID-19 will be considered as force majeure under RERA
Liquidity of up to INR 50,000 crore through reduction in TDS and TCS rates
The fourth tranche of INR 20 lakh crore economic package announced by Finance Minister Nirmala Sitharaman today streamlines processes to fast-track investments in key sectors, builds a solid ground for executing Prime Minister Narendra Modi’s vision of ‘vocal for local’, enables employment generation, brings consumers at the centre stage and most importantly, creates ample room to unleash the benefits of privatisation.
Unveiling the third tranche of the INR 20 lakh crore economic package under the Atmanirbhar Bharat Abhiyan, Finance Minister Nirmala Sitharaman’s announcements today focused on strengthening India’s agriculture and allied activities sector; she also introduced governance reforms.
In continuation of Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat Abhiyan’, Finance Minister Nirmala Sitharaman today, in her second tranche of Centre’s INR 20 lakh crore fiscal stimulus, addressed the challenges of food, shelter and livelihood faced by migrant workers, street vendors and small farmers.