Finance Minister Nirmala Sitharaman today announced the fifth and final tranche of the INR 20 lakh crore economic package under Prime Minister Narendra Modi’s Aatmanirbhar Bharat Abhiyan initiative. The tranche 5 of measures was a continuation of several reforms addressing challenges related to land, labour, liquidity, and laws announced in the last four days.
From the CEO’s desk
"Direct listing overseas without the need to list in India is a massive benefit for start-ups, high-tech and biotech, metals and minerals etc., which are better understood by investors in specific markets overseas. This will reverse flight of capital and off-shoring of Indian companies. I believe this will help India go from approximately 50 to 500 such companies in the next five years."
Vishesh C. Chandiok, CEO, Grant Thornton India
Key highlights from the announcement
|INR 40,000 crore additional allocation to MGNREGS
|Decriminalise all violations of technical and procedural nature compliances under Companies Act
|All districts to have infectious diseases wards in hospitals; public health labs at block-level
|Companies can list their securities directly in foreign jurisdiction
|PM e-VIDYA to be launched for school education
|A new Public Sector Enterprise Policy to allow private sector to operate in all sectors
|Debt defaults related to COVID-19 will be excluded from definition of ‘default’ under IBC
|States borrowing limit increased from 3% to 5% of the GSDP