Discover and read the best of Twitter Threads about #AtmaNirbharBharatPackage

Most recents (4)

#AatmaNirbharBharat Package progress so far:

To boost @makeinindia and help our MSMEs, @FinMinIndia has amended present Rule 161(iv) of General Financial Rules, 2017 & GFR Rules relating to Global Tenders. Now, no Global Tender Enquiry shall be invited for tenders up to ₹200cr.
₹3 lakh crore collateral-free automatic loans for Business including MSMEs:

• Emergency Credit Line Guarantee Scheme (ECLGS) Fund registered on 26 July 2020.

• Noticeable progress in identifying units, sanctioning as well as disbursing of loans to MSMEs.
₹50,000 crore liquidity through TDS/TCS Rate Reduction

• Reduction in TDS rates announced on 13 May 2020

• Applicable for specified payments to residents and specified TCS rates by 25% for transactions made from 14th May 2020 to 31st March 2021

Read 9 tweets
FM says:
4th package focusses on measures for self-reliant India.
☆"We are not looking inwards. Its about making India strong to face global challenges."
☆"Policy simplification, decongesting sectors for necessary growth boost. Deep systemic reforms".
FM says not a single phone call to banks (from anyone in govt) seeking loans for someone since 2014.

Structural reforms is focus of 4th economic package.


FM says reforms to be carried out in:

1. Coal
2. Minerals
3. Defence Production
4. Airspace management
5. Airports
6. Aviation MRO
7. Power discoms in UT's
8. Atomic Energy

Read 19 tweets
Was speaking yesterday to business people, industrialists & economists about the 20 lakh crore package. Here is a thread on the feedback I got. There is a demand side and a supply side to the economy. Right now both are hit badly. #AtmaNirbharBharatPackage 1/n
Supply side is struggling to pay salaries, restore supply chains and manage debt repayments without any revenues. However all these are issues that can to some extent be managed. If the entrepreneur feels that there will be a demand for his product he will borrow. 2/n
Govt is also making it easier to borrow.However if he feels there is unlikely to be any demand for his products why would he take on more debt?He will likely retrench staff, cut costs, downsize &wait for things to improve. So for supply to do well demand is needed 3/n
Read 11 tweets
Day 3 of #NirmalaSitharaman detailing the #AtmaNirbharBharatPackage announced by #Modi on 12th

- Focus on agriculture, fisheries, animal husbandry, dairy and allied activities.
Just like yesterday, the briefing begins with a detailing of things the govt has been doing. After this, there will be 11 announcements form the package--3 governance reforms, 8 government measures to expand storage, etc.

#NirmalaSitharaman #AatmaNirbharBharatPackage
After a quick review of yesterday's announcements, she lists measures taken over the last two months:
- MSP purchases of Rs. 74300 cr. happened during lockdown, also Rs 18,700 cr. to PM Kisan funds
- Claim payments of Rs. 6400 cr. have been transferred
Read 26 tweets

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