The authorities on Sunday launched a progress report on the implementation of measures introduced beneath its Atmanirbhar Bharat bundle after a assessment by Finance Minister Nirmala Sitharaman. In May, the federal government had introduced fiscal and financial assist price Rs 21 lakh crore to assist the nation battle the injury attributable to the coronavirus pandemic. The finance and company ministries instantly began implementation of the bulletins associated to the financial bundle beneath the Atmanirbhar Bharat collection of initiatives, an official launch mentioned.
Here are a few of the key factors on the progress reported thus far:
In a significant reduction to micro, small and medium enterprises, the Department of Expenditure has amended guidelines referring to international tenders, to make sure no international tender inquiry will likely be invited for tenders as much as Rs 200 crore except prior approval is obtained from Cabinet Secretariat. The authorities had earlier introduced that international tenders will likely be disallowed in authorities procurement tenders as much as Rs 200 crore.
In reduction to contractors, varied departments and ministries are implementing directions to make sure central companies like Railways, Road Transport and Highways and CPWD give an extension of as much as six months for completion of contractual obligations.
The division issued a communication to all state governments for extra borrowing of two per cent (of projected gross state home product in 2020-21) topic to implementation of particular state-level reforms. The authorities had earlier introduced its choice to extend borrowing limits of states from Three per cent to five per cent for 2020-21 in view of the scenario attributable to the COVID-19 illness. The transfer will present the states with further sources price Rs 4.28 lakh crore.
In a interval of about one and half months, noticeable progress has been achieved in figuring out models, sanctioning in addition to disbursing of loans to MSMEs. The authorities had introduced collateral-free automated loans price Rs Three lakh crore for companies and MSMEs.
Rs 45,000 crore Partial Credit Guarantee Scheme 2.zero for NBFCs
Banks have accepted buy of portfolio of Rs 14,000 crore and are presently in strategy of approval/negotiations for Rs 6,000 crore as on July 3.
Additional Emergency Working Capital Funding for farmers by NABARD
When kharif sowing is already on its full swing, Rs. 24,876.87 crore out of Rs. 30,000 crore has been disbursed as on July 6 out of this particular facility.
Between April eight and June 30, the Central Board of Direct taxes (CBDT) has issued refunds in additional than 20.44 lakh instances amounting to greater than Rs. 62,361 crore, and the remaining refunds are beneath course of.
The Rs 30,000-crore Special Liquidity Scheme for non-banking monetary corporations, housing finance corporations and microfinance establishments has been launched, following the Cabinet’s approval. The first utility on this regard has acquired its approval and the remaining are additionally being thought of, the federal government mentioned.