Hello Everyone and welcome to all of you on your website. Today I am
going to describe the Rs.20 Lakh Crore Package. If all of you want to know, then
all of you must read this article carefully, and If you still do not understand
anything at all then all of you can tell me in the comment section below, I
will help you
FIRST PHASE OF 20 LAKH CRORE PACKAGE
SECOND PHASE OF 20 LAKH CRORE PACKAGE
THIRD PHASE OF 20 LAKH CRORE PACKAGE
FOURTH PHASE OF 20 LAKH CRORE PACKAGE
FIFTH PHASE OF 20 LA
As
we all know, PM Modi announced the Rs.20 Lakh Crore package which is our 10% of our
GDP, so today I try to discuss everything about 20 lakh crore Package. Our GDP lies in 5th position with the amount of 2.9 Trillion dollar
(200 Lakh Dollar ), The US stands at 1st position while China stands
at 2nd position. India took a great decision because all other
countries wouldn’t start this huge package except the US, Japan because they are
more developed than India and they can afford but if we compare our GDP so it
is very huge in the amount for us. The 20 lakh
Crore was not a new amount, all previous amount was included in this, which means our
Government had started a package of Rs. 1.7 lakh crore of free foodgrains to
poor and cash to poor women and elderly which is announced in March so that
amount is also included in 20 lakh crore package and Gov started one another
package of Rs 6.5 lakh crore for RBI Bank’s liquidity measures and interest
rate cuts and this amount about 8 lakh crore that was already announced by our
Government now 12 lakh crore package remained, In other words we can say in
the 20 lakh crore package Government already announced about its 4% of GDP
means 8 lakh crore package has been already announced , the package of 20 lakh crore can be said as a 12 lakh crore package
because 8 lakh crore package had already announced by our Government in the
month of March-April.
Phases of 20 lakh crore Package
Phases of 20 lakh crore Package
There
are five phases of 20 lakh Crore Package.
1.Focus
on MSME and NBFC
2.Focus
on Migrant workers and Farm
3. Focus
on Agriculture and Allied Activities
4.The Government
opens doors to Privatization, Defence, Power, and Space.
5. Focus
on MNREGA, Health, Rural and Urban including Education, Businesses, and
COVID-19, Decriminalization of Companies Act, Eaes of doing Business, State
Government and Resources related to State Governments, public sector enterprises.
FIRST PHASE OF 20 LAKH CRORE PACKAGE
Focus on
MSME and NBFC ( Non-Banking Financial Companies)
Collateral
free loan of Rs. 3 Lakh crore for MSMEs.
This will benefit 45 Lakh units so that
they can resume and save jobs.
For
stressed MSMEs, the Subordinate debt provision of Rs 20,000 crore has been
announced for 2 Lakh MSMEs. It will benefit those who are NPAs or Stressed
MSEs.
50,000
Crore equity infusion through Mother Fund Daughter fund for MSMEs that are
viable but need handholding. A fund of funds with a corpus of Rs 10,000 crore
will be set up to help these units expand capacity and help them list on markets
if they choose.
· Definition
of MSME will expand/changed Micro units with investment till Rs 1 cr, turnover
up to Rs 5 crore. Small units with investment till Rs 10 cr turnover up to Rs 50
cr. Medium units with investment till Rs 20 cr to turnover up to 100 crore.
For
employees, a liquidity relief of 2500 Cr for EPF support is being given to all
EPF establishments, EPF contribution will be paid by the government of India for
another 3 months till August and will benefit more than 72 lakh employees.
Statutory
EPF contributions for all organizations and their
employees covered by EPFO has been reduced to 10% from 12 % earlier. This
doesn’t apply to Govt. organizations. This will infuse Rs 6,650 Cr liquidity
into these organizations.
For these NBFCs/HFCs/MFIs: Rs 30,000 Cr special liquidity scheme for investing in
investment grade debt paper of NBFCs, HFCs and MFIs. These NBFCs are those that are also funding MSMEs. These
will be fully guaranteed by Government of India.
Rs
45,000 Cr partial credit guarantee scheme 2.0 for NBFCs. The first 20 %loss
will be borne by the gurantor that is Gov of India.
For
Discoms , a one-time emergency liquidity
injection of Rs 90,000 cr against all their receivables.this states will Gurantee
it.
Rs
50,000 Cr release on reduction of 25 % of existing rates of TDS and TCS.
It
equals more than 3 lakh crore.
PURPOSE
|
AMOUNT
|
For
stressed MSMEs
|
20,000 Crore
|
Mother
Fund Daughter Fund
|
60,000 Crore
|
Liquidity
relief for employees
|
2500 Crore
|
EPFO has
been reduced to 10% from 12 % earlier
|
6,650 Crore
|
Partial
credit guarantee scheme 2.0 for NBFCs.
|
45,000 Crore
|
For
Discoms, a one-time emergency liquidity injection
|
90,000 Crore
|
Reduction
of 25 % of existing rates of TDS and TCS.
|
50,000 Crore
|
For
NBFCs/HFCs/MFIs
|
30,000 Crore
|
Total
|
3,04,150 Crore
|
SECOND PHASE OF 20 LAKH CRORE PACKAGE
Focus on
Migrant workers and Farms
Rs
30,000 Cr additional emergency working
capital funds to be provided through NABARD to small, marginal farmers.
Rs
2 lakh crore concessional credit will be
initiated to 2.5 Lakh Cr farmers through Kisan Credit Cards.
Government
to extend the Credit linked subsidy schemes ( CLSS ) for middle income group (
annual income of Rs 6-18 lakhs) upto March 2021, 2.5 Lakh middle families to
benefit during 2020-21.
Interest
subvention support of 2% for those who have availed loans under Mudra Shishu
Loan ( Rs 50,000 Cr or less) will be given after 3 month Moratoriom period
ends. It will benefit over 3 crore people under the shishu category.
Govt
to launch a scheme for affordable rental housing for Migrant workers/ Urban poor to provide
ease of living by converting Govt funded housing in cities into Affordable Rental Housing Complexes (
ARHC ) under PPP mode through Concessionaire.
Public
distribution ration cards can be used in any ration shops irrespective of the
States. One nation one ratio card will be implemented and we assure 100% of
national portability of these cards by March 31, 2021.
Free
food grains supply to all migrants for the next 2months. For Non-card holders,
they shall be given5Kg wheat/rice per person and 1 Kg chana per Family/ month
for 2 months. 8 Cr migrants will benefit Rs 3,500 cr will be spent on this.
Minimum
wage for workers hiked from Rs 182 to Rs 202 per day. States and UTs have also
been told to provide jobs to migrants.
PURPOSE
|
AMOUNT
|
Capital funds through NABARD
|
Rs 30,000
Crore
|
Concessional credit through Kisan
Credit Cards.
|
Rs 2.5 Lakh Crore
|
Interest subvention support under Mudra Shishu Loan
|
Rs 50,000 Crore
|
Free food grains supply to all
migrants
|
Rs 3,500 Crore
|
Total
|
Rs
3,35,000 Crore ( or more some schemes money not announced)
|
THIRD PHASE OF 20 LAKH CRORE PACKAGE
3.Focus on
Agriculture and Allied Activities
A
central law will be formulated to provide adequate choice to farmers to sell
produce at attractive price, barrier free inter state trade and a framework for
E-trading of agricultura produce.
The
amendment of the Essential commodities Act and the Agricultural marketing
reforms proposed by the Finance Minister
Govt
comes up with Rs 20,000 Cr scheme for fisherman called Pradhan Mantri Matsya
Sampada Yojana (PMMSY)
Govt
has come up with a Rs 10,000 cr schemes for the formalization of Micro Food
Enterprises .
This
fund will address the infrastructural issue for agricultural startups, says the
Finance Minister.
Essential
commodities act enacted again.
FOURTH PHASE OF 20 LAKH CRORE PACKAGE
4.Government
opens doors to Privatization, Defence ,Power and Space.
This
sector focus on Coal, Civil Aviation, Power and Social Infrastructure
Rs
50,000 cr will be spent by Govt to ensure evacuation infrastructure is being
provided in Coal sector.
500
mining blocks would be offered through an open and transparent auction process.
Efforts
taken give us confidence that Make in India, an initiative to change mindset,
bring in new ways of doing business, make sure India becomes attractive on its
strength is bearing fruit.
In
critical areas like defence we need to boost programmes like Make in India.
Foreign
Direct Investment limit in defence manufacturing under automatic route is being
raised from 49% to 74%.
Civil
aviations is up for a big leap. We will be able to get to our destination in
shortesr possible time saving fuel, time, cost.
Restrictions
on the utilisation of Indian Air Space will be eased so that civilian flying
becomes more efficient. It will bring a total benefit of Rs 1,000 crores per
year for the aviation sector.
Boosting
private sector investment in social infrastructure through revamped Viability
Gap Funding Schemes of Rs 8100 Crores.
The
private sector will be allowed to use ISRO facilities and other relevant assets
to improve their capacities.
FIFTH PHASE OF 20 LA KH CRORE
PACKAGE
5.Focus on
MNREGA,Health,Rural and Urban, including Education,Businesses and
COVID-19,Decriminalization of Companies Act, Eae of doing Business,State
Government and Resources related to State Governments, public sector
enterprises.
More
than Rs 4113 Cr were released to States. Insurance cover of Rs 50 laky per
person has been announced for healthcare workers .Epidemic Diseases Act was
amended for protection of healthcare workers.
Govt
will allocate additional Rs 40,000 Cr for MNREGA scheme.
COVID-19
crisis enabled in India to prove to the
world that we can ramp up our production of protective equipment. From 0
producers, we today have more than 300 domestic PPE manufacturers, we have
given more than 11 cr HCQ tablets.
200
new textbooks have been added to E-Pathshala, teachers
and students, states, Provision has been made for telecast of live interactive
sessions for teachers and students, states are coordinating to share
educational air-time.
Technology
driven education to be the focus PM eVIDYA programme for multimode access to
digital/online education to be launched immediately.
Discrimination
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.
Minimum
threshold to initiate insolvency proceedings raised to Rs 1 crore from Rs 1
Laky to benefit MSMEs.
Govt
to announce a new public sector policy- a list of strategic sectors requiring
presence of PSEs in public interest will be notified.
This
is the complete analysis of 20 lakh crore package.
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Through this Article, I told you all about 20 lakh crore Package, If anyone has liked my Article then share it with your
Friends, In addition, if you all have any confusion. All of you can tell me in
the comment section below, I will help you.
Thanks....to provide us all information on this valuable topic...
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