NIRMALA SITHARAMAN GIVES BREAK-UP OF THE ₹20 LAKH CRORE ECONOMIC PACKAGE
Here’s a tranche-wise break-up of the ₹20 lakh crore ‘Aatm Nirbhar Bharat’ stimulus package
Subjects
economic package
In the fifth and final announcement of the government’s measures to battle coronavirus and make the country more self-reliant, the government today announced an additional ₹40,000 crore allocation for the rural employment guarantee scheme to help provide jobs to migrant workers returning home.
The ₹20 lakh crore economic stimulus package to deal with the fallout of COVID-19 includes ₹8.01 lakh crore of liquidity measures announced by the Reserve Bank since March.
The finance minister on Wednesday had declared a series of liquidity gauges for millions of small businesses rocking under the impact of COVID-19 lockdown, encompassing collateral-free voluntary loans worth ₹3 lakh crore.
The statements came after the Prime Minister on Tuesday endorsed the economic package for the nation to become ‘self-reliant’ and bargain with the COVID-19 crisis.
Here’s the break-up of ₹20 lakh crore ‘Aatm Nirbhar Bharat’ stimulus package:
Earlier measures: ₹1,92,000 crore
Revenue lost due to tax concessions announced since March 22: ₹7,800 crore
PM Garib Kalyan Package: ₹1,70,000 crore
PM’s announcement for the health sector:₹15,000 crore
Tranche 1: ₹5,94,550 crore
The five-part incentive package announced proceeding May 13 comprised₹5.94 lakh crore in the initial tranche that gave credit line to small industries and support to shadow banks and electricity diffusion companies.
Emergency laboring capital facility for businesses including MSMEs: ₹3 lakh crore
Subordinate debt for stressed MSMEs:₹20,000 crore
Fund of fund for MSMEs: ₹50,000 crore
EPF support for businesses and workers:₹2,800 crore
Reduction in EPF rates: ₹6,750 crore
Special liquidity scheme for NBFCs, HFCs, and MGIS: ₹30,000 crore
Partial credit guarantee scheme 2.0 for liabilities of NBFCs and MFIs: ₹45,000 crore
DISCOMS: ₹90,000 crore reduction in TDS/TCS rates: ₹50,000 crore
Tranche 2: ₹3,10,000 crore
The second tranche included free foodgrain to stranded migrant workers for two months and credit to farmers, totaling ₹3.10 lakh crore.
Free food grain supply for migrant workers for 2 months: ₹3,500 crore
interest subvention for MUDRA Shishu loans: ₹1,500 crore
Special credit facility for street vendors:₹5,000 crore
Housing CLSS-MIG: ₹70,000 crore
Additional emergency WCF through NABARD: ₹30,000 crore
Additional credit through KCC: ₹2 lakh crore
Tranche 3: ₹1,50,000 crore
Stimulus under Part-3 which included incentives for Food Micro Enterprises, totaling 1.5 lakh crore.
MFEs: ₹10,000 crore
PM Matsya Sampada Yojana: ₹20,000 crore
TOP to TOTAL: ₹500 crore
Agri infra fund: ₹1 lakh crore
Animal husbandry infra development fund: ₹15,000 crore
Promotion of herbal cultivation: ₹4,000 crore
Beekeeping initiative: ₹500 crore
Tranche 4+5: ₹48,100 crore
The fourth and fifth tranches that dealt mostly with structural reforms totaled to ₹48,100 crores.
Viability gap funding: ₹8,100 crore
Additional MGNREGS: ₹40,000 crore
RBI measures: ₹8,01,603 crore
Total: 20,97,053 crore
