Latest Updates: Finance Minister on the Aatma Nirbhar Bharat Package

On Tuesday, The PM announced the Aatma Nirbhar Bharat package that focussed on making India self-reliant.

हिंदी में पढ़ें 

Today, Finance Minister, Nirmala Sitharaman said, “The aim of Atma Nirbhar Bharat Abhiyan is to spur growth and to build a self-reliant India. Our intention is to make local brands and take them on a global level.”

The major highlights are given below: 

  • The Finance Minister announced collateral-free loans for the Ministry of Micro, Small, and Medium Enterprises up to Rs 3 lakh crore. For the stressed MSMEs, she further announced Rs 20,000 crore liquidity to benefit around 2 lakh MSMEs. 
  • In the third scheme for the MSME sector, the finance minister said that a fund of funds will be set up for the MSMEs that are viable. The fund of funds will have a corpus of Rs 10,000 crore. The scheme will help the MSME increase its size. 
  • The investment limit which defined an MSME has been revised upwards to Rs.1 crore as compared to Rs. 25 lakh earlier.

  • Global tenders to be disallowed in government procurement up to Rs 200 crore. This will make India self-reliant and will also boost the make-in-India initiative.
  • All receivables for SMEs to be cleared within the next 45 days since trade fairs and exhibitions may not be held post coronavirus.
  • To ease financial stress as businesses get back to work, the Government decides to continue EPF support for business & workers for 3 more months providing a liquidity relief of Rs 2,500 crores.
  • In order to provide more take-home salary for employees and to give relief to employers in payment of PF, EPF contribution is being reduced for businesses & workers for 3 months.
  • The government launches a Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies.
  • A liquidity infusion of Rs.90,000 crore for all power distribution companies has been announced as the electricity distribution companies are facing a serious crisis.
  • Due date of all IT returns for FY20 has been extended to November 30.