Continuing in the series of previous four tranches of 20 Lakh Crores Economic Package, Finance Minister begins fifth and last tranche of stimulas package with quoting Prime Minister's words on Aatmanirbhar Bharat. Finance Minister reckoned several DBT Transfers to Farmers through Kisan Kalyan Yojana, Women through their Jan Dhan Accounts, Poors through Garib Kalyan Yojana. In the press briefing Devashish Panda, Secy, Dept of Financial Services, Tuhin Kant Pandey, Secy, Disinvestment (DIPAM), Injeti Srinivas, Secy, MCA, Ajay Bhushan Pandey, Finance Secy & Revenue Secy, TV Somnathan, Secy, Expenditure& Tarun Bajaj, Secretary, DEA.
Finance Minister also said that the Pulses were given 3 months in advance. I appreciate concerted efforts of Food Corporation of India, National Agricultural Cooperative Marketing Federation of India & states, giving pulses & grains in huge quantities, despite logistical challenges, said FM.
Govt has announced ₹15,000 Crores. Shramik special trains were started when it was possible for workers to move, states were requested to bring workers to stations, 85% cost was borne by the Central government. Today, announcements will be made about 7 steps taken by the govt - MGNREGA, health & education related steps, business & COVID, decriminalization of Companies Act, ease of doing business, public sector enterprises, state govt resources.
20 crore Jan Dhan account holding women got Rs 10,025 crores. 2.2 crore building and construction workers got Rs 3,950 crores. 6.81 crore people got free LPG cylinders and12 lakh EPFO holders got online withdrawal of advance.
One-time transfer of Rs 2,000 has reached 8.19 crore farmers, total amount Rs 16,394 crore. NSAP beneficiaries got Rs 1,405 crore in first installment & Rs 1,402 crore in second instalment, target of Rs 3,000 crore nearly achieved.
Pradhan Mantri Garib Kalyan package used technology to do direct benefit transfer to people. We could do what we did because of the initiatives taken during the last few years.
Govt has taken a number of health-related steps for COVID19 containment- Rs 15000 crore announced for states, essential items & testing labs & kits alongwith rolling out of teleconsultation services, launch of Arogya Setu app & protection to health care workers with adequate PPEs.
Ease of Doing Business-
The Government is working on a mission mode on the next phase of 'ease of doing business' reforms. More than Rs 4,113 crores have been released to states. 44% recovery achieved since the inception of Insolvency and Bankruptcy Code, said FM.
Insurance cover of Rs 50 lakhs per person has been announced for healthcare workers & Epidemic Diseases Act was amended for protection of healthcare workers..
Online Education during Covid19-
Online education during COVID19: Swayam Prabha DTH channels launched to support and reach those who do not have access to the internet; now 12 channels to be added.
The government will now allocate an additional Rs 40,000 crores to MGNREGS to provide employment boost.
Health expenditure will be increased&investment at grassroots level will be ramped up for health & wellness centres, with particular focus on aspirational districts. All districts will have infectious diseases block in hospitals. Public health labs will be set up at block levels.
Technology-driven education to be the focus- PM eVIDYa programme for multi-mode access to digital/online education to be launched immediately. Top 100 universities will be permitted to automatically start online courses by 30th May 2020.
Timely action was taken during COVID19 to reduce compliance burden under various provisions of Companies Act. Board meetings were allowed to be online, rights issues can be done digitally, major reform in corporate governance.
Decriminalisation of Companies Act defaults;7 compoundable offences altogether dropped and 5 to be dealt with under alternative framework. The amendment will de-clog the criminal courts and NCLT.
Now, Indian public companies can list their securities directly in foreign jurisdictions. Private companies which list Non Convertible Debentures on stock exchanges will not be regarded as listed companies.
Govt to announce a new public sector policy- a list of strategic sectors requiring presence of PSEs in public interest will be notified. In strategic sectors,at least 1 enterprise to remain in public sector but pvt sector to be allowed. In other sectors, PSEs to privatised.
New PSU policy to be announced; to define strategic sectors where PSUs will be present, others will be privatised/merged. Non-strategic PSUs to be privatised.
The states have seen a sharp decline in the revenue, we have consistently extended help to the states. Revenue Deficit Grants to states of Rs 12,390 crores was given on time in April&May despite Centre's stressed resources; devolution of taxes of Rs 46,038 in April given fully.
Union Finance Minister Nirmala Sitharaman announced that the Centre has allocated an additional amount of Rs 40 thousand crores under the Mahatma Gandhi National Rural Employment Guarantee Scheme.