In order to revive the economy during the Corona crisis, the central government Nirmala announced an economic package of about Rs 20 lakh crore in May-2020. The package was named ‘Self-reliant India Package’. These announcements were completely different from the budget.
Finance Minister Nirmala Sitharaman will present the budget today. Every sector facing Corona is expecting a budget this time.
But before the budget, the government took many big decisions during the Corona crisis, which are often taken in the budget. In such a situation, the Prime Minister has given many gifts to the country before the budget.
In fact, in order to infuse the economy during the Corona crisis, the central government announced an economic package of about 20 lakh crore rupees in May -2020. The package was named ‘Self-reliant India Package’. This announcement was completely different from the budget.
Announcing the economic package, Finance Minister Nirmala Sitharaman had said that this economic package will help the country in recovering from the coronavirus epidemic.
At the same time, it will help India to become self-sufficient. Even after that, the government made many big announcements.
In the self-sufficient India package, emergency liquidity was given Rs 90,000 crore to help discoms or electricity distribution companies.
A special liquidity scheme of 30,000 crores was introduced for non-banking finance companies, microfinance companies. The government said that this result in a cash crisis.
Self-sufficient India package
To extend the schemes already underway, it was announced to provide assistance of Rs 45,000 crore to NBFCs. At the same the loan guarantee scheme will be expanded, NBFCs rated double-A or below will also get loans.
Apart from this, major reforms were announced for coal, defense, mineral, civil aviation, space, power sector.
The definition of the MSME sector has been changed. The definition of MSME ie MSME has been changed. The investment limit has been changed in this. Micro-industry will be given 1 crore investment or 10 crore turnover.
Similarly, the status of small scale industry will be given on 10 crore investment or 50 crore turnover.
At the same time, there will be medium industry status on 20 crore investment or 100 crore turnover. Nirmala Sitharam said that a trade fair is not possible in the current era.
All the big
announcements of last year- Rs 1,92,800 crore were given under the Prime Minister’s Poor Welfare Package.
Announcement of Rs 11,02,650 crore under Self-Reliant India Campaign 1.0. Under the Pradhan Mantri Garib Kalyan Package Anna Yojana, an announcement of Rs. 82,911 crore.
Declaration of Rs 73,000 crore under Self-Reliant India Campaign 2.0. Announcement of Rs 2,65,080 crore under Arjun Nirmal Bharat Abhiyan 3.0. According to RBI Measures, Rs. 12,71,200 crore has been announced, totaling Rs. 29,87,641 crore has been announced.
Announcing the self-reliant India package, Prime Minister Narendra Modi had said that a package of 20 lakh crore rupees will give a new impetus to the development journey of the country in 2020.
This package is about 10 percent of India’s GDP. The package of 20 lakh crores is about 10 lakh crores less than the approved budget of 2020-21 i.e. 30 lakh crores.
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