Nirmala’s Economic Stimulus for MGNREGA, Health & Businesses

TNI Bureau: In the 5th and final tranche of economic stimulus package, Union Finance Minister Nirmala Sitharaman has announced a series of measures for Migrant Workers as well as private sectors.

The additional Rs 40,000 crore assistance for MGNREGA is aimed at creating more rural jobs for the migrant workers who return to their home states.

The FM clarified that the Rs 20 lakh crore economic stimulus includes Rs 8.01 lakh crore of liquidity measures by RBI and Rs 1.92 lakh crore package announced in March, 2020. Rs 11.10 crore package was announced by Nirmala Sitharaman in 5 tranches.

Key Highlights:

? Additional Rs 40,000 crore (over and above Rs 61,000 crore) for MGNREGA to generate rural jobs for migrant workers who return to their home states.

? Public Expenditure on Healthcare increased. Rs. 15,000 crore allocated for Rural Health Sector.

? All Districts to have Infectious Disease Blocks.

? Public Health Labs to he set up at Block Level.

? PM E-Vidya Programme for Digital Learning; Automatic approval for online courses. Specially e-content for specially-abled children.

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? 100 Universities to launch e-learning classes.

? Big relief for COVID-hit Industries. Debts due to COVID19 will not be included in the category of ‘default’.

? Threshold for insolvency raised to Rs 1 crore. No insolvency proceedings for one year.

? Companies won’t be sued for technical defaults.

? New Public Sector Policy to come up. All sectors opened for private players. Public Sector Enterprises (PSEs) to be privatized.

? List of strategic sectors requiring presence of PSEs in public interest will be notified.

? Borrowing limit increased from 3% to 5% for States, to make available Rs 4.28 lakh crore extra.

? 75% of State borrowing allowed in advance.

? Rs 11,000 crore released to States as SDRF Funds.

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