January 2021
3:49 AM IST
News Headlines
Unlucky Kerala shares spoil with Jamshedpur        England team lands in Chennai, Indians arrive in batches for first two tests        Israel military revising operational plans against Iran        France's Sanofi to boost Pfizer vaccine supply amid EU shortages        Hero MotoCorp to commence its operations in Mexico soon        GHIAL to raise US $300 Mn through bond issue for Hyderabad airport expansion        Cabinet approves MSP of Copra for 2021 season        Rajnath speaks to his US counterpart, the two NSAs also talk, Indo-US ties to deepen further        RJD should cancel it's proposed human chain in view of Republic Day violence: Sushil        Two farmer unions withdraw from protest against farm laws        One million COVID-19 vaccine doses administered in India in just 6 days: Health ministry        England near Sri Lanka's 1st innings total after Root's 186        Srikanth resumes training after BAI gets mandatory quarantine time reduced        Melbourne century very special as it was crucial for series victory, says Rahane        FinMin allocates Rs 660 cr additional funds to MP for capex        Markets may remain volatile in holiday-shortened week: Analysts        US condemns Russia's use of harsh tactics against protesters, journalists        Egypt says it has launched vaccination against coronavirus        Qureshi says Pakistan ready to work with new US administration        MP government trying to crush farmers' voice: Kamal Nath        
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Kerala News
FM announces measures on Atma Nirbhar Bharat 3.0
New Delhi: As part of efforts to revive the derailed COVID-19-hit economy, the Modi government on Thursday announced the ''Atmanirbhar Bharat 3.0 package'' and ''Atmanirbhar Bharat Rozgar Yojana'' for those, who lost their jobs during the pandemic. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced 12 key measures, as part of the Centre''s stimulus to the economy, under the Atma Nirbhar Bharat 3.0. The net stimulus announced today amounts to Rs 2.65 lakh crore. Ms Sitharaman further said the total stimulus announced by the Government and the Reserve Bank of India till date, to help the nation tide over the COVID-19 pandemic, works out to Rs 29.87 lakh crore, which is 15 per cent of national GDP.

Out of this, stimulus worth nine per cent of GDP has been provided by the government. Addressing a press conference here, Ms Sitharaman and Minister of State for Finance Anurag Thakur said that 12 schemes are being announced in this new package. The Finance Minister said that recent figures are showing signs of improvement in the economy. The GST revenue collection has reached Rs 1.05 lakh crore in October, she added. The Minister said that Reserve Bank of India has also indicated positive growth of the economy in the third quarter itself. The stock market is also touching a new record level.

FDI investment has also been positive, she noted. Ms Sitharaman said that Foreign exchange reserves have also reached a record 560 billion dollars. Railways have increased freight by 20 per cent. Bank loan disbursement increased by five per cent in the same sequence.

According to Ms Sitharaman, 10 more Champion Sectors will be covered under the Production Linked Incentives Scheme to help boost competitiveness of domestic manufacturing. This will give a big boost to economy, investment, exports and job creation. She said a total amount of nearly 1.5 lakh crore has been earmarked across sectors, for the next five years. These 10 sectors include Advance Cell Chemistry Battery, Electronic/Technology Products, Automobiles & Auto Components, Pharmaceuticals Drugs, Telecom & Networking Products, Textile Products, Food Products, High Efficiency Solar PV Modules, White Goods (ACs & LED), and Specialty Steel, added the Minister.

She said Rs 10,200 crore additional budget stimulus is being provided for capital and industrial expenditure on domestic defence equipment, industrial infrastructure and green energy. Rs 900 crore is being provided to the Department of Biotechnology for Research and Development of Indian COVID Vaccine, added Ms Sitharaman. The Finance Minister said the workers have benefited greatly from the steps taken under the Atma Nirbhar Bharat. Similarly, efforts to provide relief to farmers have also resulted in good results. She said that 61 lakh people have benefited under the Emergency Credit Line Guarantee Scheme (ECLGS) under the Atma Nirbhar Bharat and now, the duration of this scheme is being extended till March 31, 2021.

According to Ms Sitharaman, Rs 1.52 lakh crore have been disbursed and loans worth Rs 2.05 lakh crore have been approved under the Emergency Credit Line Guarantee Scheme (ECLGS) under the Atma Nirbhar Bharat. The Finance Minster said the Income Tax Department has given a refund of Rs 1.32 lakh crore. ''''Under the Emergency Credit Liquidity Guarantee Scheme, a total amount of Rs 2.05 lakh crore has been sanctioned to 61 lakh borrowers, out of which Rs 1.52 lakh crore has been disbursed,'''' she said.

Explaining the progress of schemes under the Atma Nirbhar Bharat Package, she said 28 states have been brought under the One Nation One Ration Card scheme and around 14 lakh loans have been sanctioned under the PMSVA Nidhi scheme for street vendors. She further said that in a significant demand, booster for the residential real estate sector, the government has decided to make amendments in the Income Tax Act to help home-buyers as well as developers. The Finance Minister said that Rs 65,000 crore fertiliser subsidy will be provided to farmers. Increased supply of fertilisers at subsidised rates will help 140 million farmers, she added.

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