FM announces Atmanirbhar Bharat 3.0 details, launches new job scheme | Key Highlights
New Delhi | Jagran Business Desk: Finance Minister Nirmala Siitharaman on Thursday addressed the nation and announced new measures in the series of stimulus announcements the government has been doing since the onset of the coronavirus crisis in the country. While addressing the press briefing Sitharaman said that the country is showing good signs of a strong recovery from the downtrend in the economy.
Nirmala Sitharaman also announced that the government has launched a new job scheme in line with Atmanirbhar Bharat mission started by Prime Minister Narendra Modi earlier this year. Sitharaman, during the address also launched Atmanirbhar Bharat Rozgar Yojana to facilitate the employment growth in the country.
Here are the key takeaways from Nirmala Sitharaman's address:
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 as stimulus takeaway: FM Nirmala Sitharaman
Rs 900 crores provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology: Finance Minister Nirmala Sitharaman
Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc: FM Nirmala Sitharaman
An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year, to boost rural employment: FM Sitharaman
10 new Champion sectors will now be covered under the Production Linked Incentives Scheme to boost the competitiveness of domestic manufacturing. It is expected to give a significant boost to economic growth and domestic employment: FM Sitharaman
We are launching a credit guarantee support scheme for the healthcare sector and 26 sectors stressed due to COVID19. Entities will get additional credit up to 20% of outstanding credit, repayment can be done in five years' time (1-year moratorium + 4 years repayment): FM Sitharaman
If new employees of a requisite number are recruited from October 1, 2020, to June 30, 2021, the establishments will be covered for the next two years: Finance Minister Nirmala Sitharaman
The existing Emergency Credit Line Guarantee Scheme extended till 31st March 2021: FM Nirmala Sitharaman
Aatmanirbhar Bharat Rozgar Yojana being launched to incentivise the creation of new employment opportunities during COVID19 recovery. Every EPFO registered organisations - if they take in new employees or those who had lost jobs b/1 March 1 & Sept 30 - these employees will get benefits: FM
'Atmanirbhar Bharat Rozgar Yojana' has been introduced as a new stimulus measure to create new employment opportunities in the country during COVID recovery phase'.
SBI Utsav cards being distributed, under the festival advance scheme announced on 12th Oct. 11 states sanctioned Rs 3,621 crores as an interest-free loan towards capital expenditure.
Under the Emergency Credit Liquidity Guarantee Scheme, a total amount of Rs 2.05 lakh crores has been sanctioned to 61 lakh borrowers, out of which Rs 1.52 lakh crores has been disbursed, says Nirmala Sitharaman.
Markets are on a record-high and India's foreign exchange reserves are at USD 560 billion. India has made a strong comeback economically. RBI has said that India will do better in Q4. So the mood in the country, as well as Moody's rating for India, has improved.
Posted By: Talib Khan