Self-reliant India 3.0: What big announcements did the government make in the Rs 2.65 lakh crore package?
◆ Another relief package of Modi government, Finance Minister announces self-reliant India 3.0
◆ New Delhi: The Modi government has announced one more relief package to revive the derailed economy. Finance Minister Nirmala Sitharaman has announced AatmaNirbhar Bharat 3.0, which has 12 announcements. In which Atmabharat Bharat has launched employment scheme which will be applicable from 1st October for a period of two years. A self-reliant India scheme has been launched which can generate employment. "There are signs of recovery in the economy," the finance minister told a press conference.
◆ After presenting the details of 12 schemes under Atmanirbhar Bharat 3.0, the Finance Minister said that a total of Rs 2.65 lakh crore has been provided under Atmanirbhar Bharat 3.0. This amount is about 15% of India's GDP.
◆ The size of the stimulus being provided by the government, as part of the 12 announcements made today under Aatmanirbhar Bharat 3.0, amounts to Rs 2.65 lakh crores. 15% of national GDP a stimulus takeaway: FM Nirmala Sitharaman pic.twitter.com/yFkq8YfYPG
- ANI (@ANI) November 12, 2020
◆ Atmanirbhar Bharat Rozgar Yojana
The aim of this scheme is to get maximum number of employees to join EPFO and take advantage of PF. Such employees who were not previously registered for PF and whose income is less than Rs 15,000 will get the benefit of this scheme. Those who were not in the job from August to September, but then joined the PF will also benefit. The scheme will be in force till June 30, 2021.
◆ The government will provide a full 24 per cent share of the PF in the form of subsidy to newly recruited employees in organizations with 1000 employees for two years. It will come into effect from October 1, 2020. The government will provide a two-year subsidy for 12 per cent PF contribution of new employees in an organization with more than 1000 employees. It will cover about 95 per cent of the organization and benefit millions of employees. Credit Guarantee Support for 26 Sectors In today's relief package, the government has announced a Credit Guarantee Support Scheme for the 26 most affected sectors among the Kovid-19 epidemics.
● ECLGS scheme extended
The government has extended the date of the Rs 3 lakh crore emergency credit line guarantee scheme to March 31, 2021. He said 61 lakh people would benefit under the ECLGS scheme under Self-Reliant India. PM Awas Yojana-Urban Rs 18,000 crore has been provided for PM Awas Yojana. It will benefit a total of 30 lakh houses. This will be in addition to the Rs 8 crore announced in the budget. It will create more than 78 lakh jobs. Construction and Infrastructure Sector Companies in the relief and infrastructure sector will now have to keep only 3 per cent instead of 5 to 10 per cent in the form of performance security for the contract. This relief will be available till next year i.e. 31st December 2021. The other main provisions are as follows:
◆ - Additional arrangement of Rs 10,000 crore for PM Garib Kalyan Yojana. It can be used for MGNREGA or village road scheme.
◆ - 65 thousand crore to provide fertilizer subsidy to farmers
Rupees have been arranged.
◆ "The government's action has paid off," Nirmala Sitharaman told a press conference on Thursday. Positive growth can be seen in the third quarter. "The Indian economy is recovering strongly," he said. Many saints are showing this. Rating agency Moody's has raised its own forecast of India's GDP growth for the calendar year 2020, the finance minister said. At the same time, the rating agency has raised its GDP growth forecast for the calendar year 2021. Moody's has raised its GDP growth forecast for 2020 to -8.9 per cent. This was -9.6 per cent earlier.
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