Published 11:02 IST, May 15th 2020
FM Sitharaman to reveal 3rd tranche of PM Modi's Aatmanirbhar Bharat package at 4 PM today
In a bid to boost the economy, Finance Minister Nirmala Sitharaman is all set to announce the third tranche of the Aatmanirbhar Bharat package at 4 PM on Friday
After announcing relief measures for MSMEs, street vendors, migrants, small farmers, self-employed people, Finance Minister Nirmala Sitharaman is all set to announce the third tranche of the Aatmanirbhar Bharat package at 4PM on Friday.
PM Modi's Rs 20 lakh crore stimulus package
Prime Minister Narendra Modi on Tuesday announced Rs 20 lakh crore economic package to to kickstart Indian economy's growth amid Coronavirus crisis. The PM had said that this includes the previous monetary package and the liquidity measures announced by RBI till date (amounting to 10.26 lakh crore). He said that the aim is to make India self-reliant (Aatmanirbhar). According to him, the earlier decisions of the Centre along with the new package totals to Rs.20 lakh crore- i.e 10% of India's GDP.
First tranche by FM Sitharaman
FM Sitharaman on Wednesday announced reforms that involved 3 lakh crore collateral-free automatic loans for businesses, Rs. 50,000 crore equity infusion through MSME Fund, redefining 'MSME', disallowing global tenders upto Rs 200 crores, Rs.30,000 crore liquidity facility for NBFCs/HFCs/MFIs, Rs.90,000 crore liquidity injection for DISCOMs among a few. She also mentioned that the focus of the package is on the factors of production- land, labour, liquidity and others.
FM Sitharaman's second tranche
On Thursday, Finance Minister Sitharaman announced nine steps to aid migrant workers, street vendors, small farmers, self-employed people. She rolled out free food grains, nationalised ration card, affordable rental housing for urban poor - all aimed at India's migrant population. She also extended several schemes for housing, street vendors and housing to provide relief till March 2021.
Updated 11:10 IST, May 15th 2020