Atmanirbhar Bharat 3.0 The Modi Government Has Made 12 Big Announcements In Stimulus Package Worth Rs 2.65 Lakh Cror
Atmanirbhar Bharat 3.0 The Modi Government Has Made 12 Big Announcements In Stimulus Package Worth Rs 2.65 Lakh Cror : November 2020, Finance Minister Nirmala Sitharaman along with Minister of State for Finance and Corporate Affairs, Anurag Thakur launched Atmanirbhar Bharat 3.0 to boost Covid-hit economy. A total of 12 announcements were made by Finance Minister Nirmala Sitharaman in a press conference focussing on jobs creation and tax relief in housing.
Modi government has announced one more relief package to revive the derailed economy in the Koro crisis. Finance Minister Nirmala Sitharaman has announced AatmaNirbhar Bharat 3.0, which has 12 announcements. In which Atmabharat Bharat Rozgar Yojana has been launched, it will be implemented from October 1 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.
Self-Employed India Employment Scheme The goal 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 a strength of 1000 employees for two years. It will be effective 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 worst-hit sectors amid the Kovid-19 epidemic.
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.
Rs 18,000 crore announced for PM Housing Scheme (Urban) Rs
18,000 crore has been provided for PM Urban Housing Scheme. 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.
Relief to the construction and infrastructure sector
Companies in the construction 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.
Rs 900 crore for research in the
Corona virus sector Rs 900 crore has been announced to encourage companies doing research in the Corona virus sector. This amount will not be used to make vaccines but to companies that are doing research. It will benefit biotechnology companies.
Announcing Fertilizer Subsidy, Provision of Rs. 65,000 crore The
Finance Minister has announced Fertilizer Subsidy to provide relief to the agricultural sector. The government has said it will provide Rs 65,000 crore as fertilizer subsidy. This will make fertilizers available to farmers at cheaper rates.
Rs 10,000 crore announcement for Pradhan Mantri Garib Kalyan Yojana The
government had earlier announced to provide employment to migrant workers from 116 districts in their state under Pradhan Mantri Garib Kalyan Yojana. The government spent Rs 37,543 crore on it. The scheme was till 31st October 2020. Now the government has announced to give Rs 10,000 crore in it.
The other main provisions are as follows .
- Additional arrangement of Rs. 10 thousand crore for PM Garib Kalyan Yojana. It can be used for MGNREGA or village road scheme.
- An arrangement of Rs 65,000 crore has been made to provide fertilizer subsidy to farmers.
Earlier, Finance Minister Nirmala Sitharaman told a press conference on Thursday that the government's move has paid off. 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 the country's 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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For two years, the government will give a full 24 per cent of the PF of newly recruited employees as subsidy to organizations with up to 1000 employees. This will be applicable from 1 October 2020. The government will give subsidy for 2 years for the new employee's 12 percent PF contribution in an institution with more than 1000 employees. About 95 percent of the institutes will come in it and crores of employees will benefit
