Sunday, 17th May 2020: The final tranche of Atmannirbhar Bharat Part 5 was held today at 11 AM in Delhi, by Smt Nirmala Sitharaman and Mr. Anurag Thakur. The final tranche was started with the quote said by Narendra Modi shared by Nirmala Sitharaman ” As a Nation, we stand at a very crucial juncture, such a big disaster is a signal for India. It has brought a message and an opportunity “. After then she highlights some figures which were possible due to DBT (Direct Bank Transfer).
The final Tranche or Part 5 of Atmanibhar Bharat discusses on Government Reforms and Enablers, which focuses on the 7 topics, they are on MG National Employment, Health in Urban and rural, Educational Related Steps, Businesses during COVID, Dicrmilasation of companies Act, Ease of doing business and related matters, Enterprises related matters, State govt. & resources related to State Govt. and also at the end topic on overall utilization of 20lakh Crore package.
The following are the highlighted topics on Government Reforms and Enablers –
MGNREGS: Govt will now allocate an additional Rs. 40000 Crores to provide employment Boost. It will generate nearly 300 crore person days work in total.
Health Reforms & Initiatives: Public Expenditure on HEalth will be increased. By investing in grass-root health institutions govt will ramp up health and wellness centers in rural and urban areas. India will be prepared for any future pandemics by taking steps in Infectious diseases hospital blocks in all districts. Strengthening of lab network and surveillance in all dist & block level.
Technology Driven Education with Equity post-COVID ( after COVID): PMeVIDYA- a program for multi-mode access to digital/online education to be launched immediately like one nation, one digital platform, one class one channel, extensive use of radio, community radio and podcasts. Manodarpan- an initiative for psychosocial support of students, teaches, and families for mental health and emotional wellbeing to be launched immediately.
Ease of Doing Business through IBC related measures: Minimum threshold to initiated insolvency proceedings raised to Rs. 1 crore (from Rs. 1lakh, which largely insulates MSMEs). Special insolvency resolution framework for MSME under Section 240A of the code to be notified soon. Empowering central Govt. to exclude COVID 19 related debt from the definition of default under the code for the purpose of triggering insolvency proceeding.
Decriminalization of COmpanies act defaults: Govt. will Decriminalise some of the COmpanies Act violations involving minor technical and procedural defaults. ( shortcomings in CSR reporting inadequacies in board report, filling defaults delay in holding AGM). The majority of the compoundable offense sections to be shifted to internal adjudication mechanism (IAM) and powers of RD for compounding enhanced (58 sections to be dealt with under IAM as compared to 18 earlier).
Ease of Doing Business for Corporates: Improvement in rankings in “starting a business and insolvency resolution” has contributed to an overall improvement in India’s Ranking on EoDB. Direct listing of securities by Indian Public companies in permissible foreign jurisdictions. Private companies that list NCDs on stock exchanges not to be regarded as listed companies.
Public Sector Enterprise Policy for NEW, Self-reliant India: Govt will announce new policy for PSEs. In strategic sectors, at least one enterprise will remain in the public sector but the private sector will also be allowed. To minimize wasteful administrative costs, a number of enterprises in strategic sectors will ordinarily be only to four, others will be privatized/merged/brought under holding companies.
Supporting State Govt. & Promoting state-level reforms: State has so far borrowed only 14% of the limit authorized. 86% of the authorized borrowing remains unutilized. In view of the unprecedented situation, the center has decided to accede to the request and increase borrowing limits of States from 3% to 5%, for 2020-21. This will give states extra resources of Rs. 4.28 lakh crores. A specific scheme will be notified by the Department of Expenditure on the following patter :
- Unconditional increase of 0.50 %
- 1% in 4 portions of 0.25 %, with each portion linked to clearly specified, measurable, and feasible reforms actions.
- further 0.50% if a milestone is achieved in at least three costs of four reform areas.
At last, the ministers take some question and also the overview of all the tranche in these days or the breakup of the 20 Lakh Crore package.
OVERVIEW of Atmanirbhar Bharat 20 lakh Crore Package PDF- Download it Here.