educratsweb logo


Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan
 

KEY HIGHLIGHTS
 

ü  Rs 40,000 crore  increase in allocation for MGNREGS to provide employment boost

ü  Increased investments in Public Health and other health reforms to prepare India for future pandemics

ü  Technology Driven Education with Equity post-COVID

ü  Further enhancement of Ease of Doing Business through IBC related measures

ü  Decriminalisation of Companies Act defaults

ü  Ease of Doing Business for Corporates

ü  Public Sector Enterprise Policy for a New, Self-reliant India

ü  Increase borrowing limits of States from 3% to 5% for 2020-21 only & promoting State level reforms

 

Hon’ble Prime Minister Shri Narendra Modi announced a Special economic and comprehensive package of Rs 20 lakh crore - equivalent to 10% of India’s GDP on 12th May 2020. He gave a clarion call for आत्मनिर्भर भारत अभियान or Self-Reliant India Movement. He also outlined five pillars of Atmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand.

In her opening remarks during the 5th Press Conference here today on stimulus package to fight COVID-19 under Aatma Nirbhar Bharat Abhiyaan, the Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman referred to the vision laid out by Prime Minister Shri Narendra Modi in his address to the Nation on 12th May 2020. Quoting the Prime Minister, Smt. Sitharaman said that as a Nation, we stand at a very crucial juncture. COVID-19 Pandemic has brought a message and an opportunity. We need now to build an Aatma Nirbhar Bharat.

Smt. Sitharaman said that in order to prove the resolve of Aatma Nirbhar Bharat, land, labour, liquidity and laws have all been emphasised in Aatma Nirbhar Bharat Package. The crisis and the challenge is an opportunity to build a self-reliant India.

The Finance Minister said today’s announcement is in continuation in the series of reforms. Soon after lockdown, we came up with Prime Minister Garib Kalyan Package (PMGKP). As part of the Rs 1.70 lakh crore PMGKP, the Government announced distribution of free food grains, cash payment to women and poor senior citizens and farmers etc. The swift implementation of the package is being continuously monitored. Around 41 crore poor people received financial assistance of Rs 52,608 crore under the PMGKP. The Finance Minister also said PMGKP used technology to do Direct Benefit Transfer (DBT) to people. We could do what we did because of the initiatives taken during the last few years, she added.

In addition, 84 lakh metric tonnes of food grains has been lifted by States and also more than 3.5 lakh metric tonnes of pulses has been dispatched to various States. And for this, Smt. Sitharaman appreciated the concerted efforts of FCI, NAFED and States, giving pulses and grains in huge quantities, despite logistical challenges.

Announcing the 5th and last Tranche of measures towards Government Reforms and Enablers, Smt. Sitharaman detailed seven measures for providing employment, support to businesses, Ease of Doing Business, and State Governments as well sectors such as Education and Health.

  1. Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost

 

The Government will now allocate an additional Rs 40,000 crore under MGNREGS. It will help generate nearly 300 crore person days in total addressing need for more work including returning migrant workers in Monsoon season as well. Creation of larger number of durable and livelihood assets including water conservation assets will boost the rural economy through higher production.

 

  1. Health Reforms & Initiatives

 

Public Expenditure on Health will be increased by investing in grass root health institutions and ramping up Health and Wellness Centres in rural and urban areas. Setting up of Infectious Diseases Hospital Blocks in all districts and strengthening of lab network and surveillance by Integrated Public Health Labs in all districts & block level Labs & Public Health Unit to manage pandemics. Further, National Institutional Platform for One health by ICMR will encourage research. And implementation of National Digital Health Blueprint under the National Digital Health Mission.

 

  1. Technology Driven Education with Equity post-COVID

 

PM eVIDYA, a programme for multi-mode access to digital/online education to be launched immediately. Manodarpan, an initiative for psycho-social support for students, teachers and families for mental health and emotional well-being to be launched immediately as well. New National Curriculum and Pedagogical framework for school, early childhood and teachers will also be launched. National Foundational Literacy and Numeracy Mission for ensuring that every child attains Learning levels and outcomes in grade 5 by 2025 will be launched by December 2020.

 

  1. Further enhancement of Ease of Doing Business through IBC related measures

 

Minimum threshold to initiate insolvency proceedings has been raised to Rs. 1 crore (from Rs. 1 lakh, which largely insulates MSMEs). Special insolvency resolution framework for MSMEs under Section 240A of the Code will be notified soon.

 

Suspension of fresh initiation of insolvency proceedings up to one year, depending upon the pandemic situation. Empowering Central Government to exclude COVID 19 related debt from the definition of “default” under the Code for the purpose of triggering insolvency proceedings.

 

  1. Decriminalisation of Companies Act defaults

 

Decriminalisation of Companies Act violations involving minor technical and procedural defaults such as shortcomings in CSR reporting, inadequacies in Board report, filing defaults, delay in holding of AGM. The Amendments will de-clog the criminal courts and NCLT. 7 compoundable offences altogether dropped and 5 to be dealt with under alternative framework.

 

  1. Ease of Doing Business for Corporates

Key reforms include:

  • Direct listing of securities by Indian public companies in permissible foreign jurisdictions.
  • Private companies which list 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.

 

  1. Public Sector Enterprise Policy for a New, Self-reliant India

 

Government will announce a new policy whereby -

    • 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 minimise wasteful administrative costs, number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatised/ merged/ brought under holding companies

 

  1. Support to State Governments

 

Centre has decided to increase borrowing limits of States from 3% to 5% for 2020-21 only. This will give States extra resources of Rs. 4.28 lakh crore. Part of the borrowing will be linked to specific reforms (including recommendations of the Finance Commission). Reform linkage will be in four areas: universalisation of ‘One Nation One Ration card’, Ease of Doing Business, Power distribution and Urban Local Body revenues. A specific scheme will be notified by Department of Expenditure on the following pattern:

  • Unconditional increase of 0.50%
  • 1% in 4 tranches of 0.25%, with each tranche linked to clearly specified, measurable and feasible reform actions
  • Further 0.50% if milestones are achieved in at least three out of four reform areas

The Finance Minister concluded by providing a breakup of the stimulus measures provided so far in order to become Aatma Nirbhar Bharat.

Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan
Contents shared By educratsweb.com

Arogya Bharat I 11th November 2019 I Thyroid
Published on Monday June 1 2020
if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
2 EPFO Pensioners to Get Enhanced Pension
3 Depression over Eastcentral and adjoining Southeast Arabian Sea: Pre-Cyclone Watch for north Maharashtra - south Gujarat coasts
4 COVID-19 testing laboratory inaugurated in CSIR-NEIST, Jorhat
5 Long Range Forecast Update for The 2020 Southwest Monsoon Rainfall
6 NTPC accelerates Learning & Development Opportunities for 19000 Employees and their family members during the Lockdown period
7 Innovative disinfection & sanitization solutions by common people selected in NIF’s Challenge COVID-19 Competition (C3)
8 Agroecology and Natural Farming Could Accelerate Inclusive Economic Growth in India
9 PM greets people of Telangana on Statehood Day; extends wishes to the people of Andhra Pradesh
10 PM Modi Launches CHAMPIONS: Technology Platform to empower MSMEs
11 Minimum Support Prices (MSP) for Kharif Crops for marketing season 2020-21
12 PM greets people on Mahesh Navami
13 Make in India gets a big boost; MoD places indent for supply of 156 upgraded BMP Infantry Combat Vehicles of value Rs 1,094 Cr on OFB
14 Kisan Credit Cards (KCC) campaign launched for 1.5 crore dairy farmers
15 We need to examine knowledge chain to see how S&T will lead to Atmanirbhar Bharat: DST Secretary at Rajasthan STRIDE Virtual Summit
16 Date of Poll and Counting of Votes for Deferred Rajya Sabha Poll
17 India as a major country of the world with appropriate technology, capital including FDI and extraordinary human resource contributing significantly to the global economy: Ravi Shankar Prasad
18 ‘Land of Rising Sun’ Arunachal Pradesh plans to provide tap connection to all rural households by March 2023
19 Indian Railways ready to provide additional Shramik Special trains for any requirement given in future also
20 Migrants can draw ration anywhere in these 20States and UTs: Shri Ram Vilas Paswan
21 Cabinet approves extension of repayment date for short term loans for agriculture and allied activities by banks which have become due or shall become due between 1st March, 2020 and 31st August, 2020
22 Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting
23 Ministry of Minority Affairs releasesInfographics highlighting the initiatives and achievements of the over the last six years
24 PM addresses 12th Episode of ‘Mann Ki Baat 2.0’
25 ONE YEAR OF MODI 2.0 - Towards a Self-Reliant India
26 Prime Minister Addresses the 25th Foundation Day of the Rajiv Gandhi University of Health Sciences
27 English rendering of PM’s address in the 12th Episode of ‘Mann Ki Baat 2.0’ on 31.05.2020
28 200 special trains to run across the country starting 1st June 2020
29 Five tips on how to live with novel coronavirus
30 United Nations Award to Indian Army Officer Major Suman Gawani
31 Prime Minister announces "My Life My Yoga" Video Blogging contest in Man Ki Baat
32 CIPET renamed as Central Institute of Petrochemicals Engineering &Technology
33 Food & PDS Minister says more than 98 LMT food grains lifted through 3530 rail rakes, sufficient 751.69 LMT food grain in stock to meet nation’s food grain requirements during lockdown
34 Cabinet Secretary reviews COVID situation in 13 worst affected cities
35 Govt of India approves Rs 445 Crore for implementation of Jal Jeevan Mission in Chhattisgarh during 2020-21
36 Consultation process for new Science, Technology, and Innovation Policy (STIP) initiated
37 Shri Dharmendra Pradhan dedicates 56 CNG stations spread over 11 States/UTs;
38 Tribal Affairs Ministry announces inclusion of 23 additional Minor Forest produce items in Minimum Support Price List
39 Free online career skills training launched on National Career Service portal in partnership with TCS ion
40 Delegation of leading Online Travel Agents (OTAs) meets Union Minister of State (I/C) for Tourism & Culture Shri Prahlad Singh Patel in New Delhi today
41 Home Ministry issues directives for COVID-19 management at public & work places
42 Shri Paswan directs FCI to expedite both distribution and procurement, expresses satisfaction with stocks replenishment
43 Around 76 Online Job Fairs conducted by NCS during lockdown
44 Twitter handle @LabourDG inaugurated by Shri Santosh Gangwar
45 Meeting of BRICS Heads of Tax Authorities held on May 29, 2020 – Held through VC
46 Indian Railways distributes more than 85 lakh free meals and about 1.25 crore free water bottles to nearly 50 lakh migrants travelling in Shramik Special Trains
47 Ek Bharat Shreshtha Bharat programme to be taken forward using innovative ways in view of the prevailing conditions of COVID 19
48 Surat Smart City takes key IT initiatives in COVID -19 management and containment
49 LIST OF 200 (100 PAIRS) MAIL/EXPRESS TRAINS TO BE RUN WEF 01/06/2020
50 Ajmer Smart City war room instrumental in fight against Covid-19
51 Science and Technology in finding solutions to combat COVID-19
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://educratsweb.com/content.php?id=2255 http://educratsweb.com educratsweb.com educratsweb