Banks have sanctioned Rs 1.87 lakh Cr,to 50.7 lakh units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme,#ECLGS,of @narendramodi govt💪

Rs 1.36 lakh Cr has been disbursed to over 27 lakh units in #MSME sector,impacted by slowdown caused by #coronavirus pandemic
Ambit of scheme,expanded to include #MSMEs with turnover of up to Rs 250Cr&individuals for business purposes

As of 5thOct2020,Rs 17460Cr of loans to individuals have been sanctioned,of which 5939Cr has been disbursed

#ECLGS scheme is a big success
#EconomicRecovery #GreenShoots
As many as 33 stranded housing projects with investment of 4197Cr accorded final approval under #SWAMIH scheme

Special window for Affordable&Mid Income Housing Fund #SWAMIH,is working at fast pace to provide relief to 25048 homeowners
#EconomicRecoveryOnTrack #ECLGS #GreenShoots
On May20th2020,Cabinet approved additional funding of up to Rs 3 lakh Cr at concessional rate of 9.25% via #ECLGS,for #MSMEs&interested units under #MUDRA

Under ECLGS,100% guarantee given by #NCGTC&corpus of 41600Cr set up by @narendramodi gov

ECLGS also covers loans under GECL

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More from @Sanju_Verma_

9 Oct
#RBIPolicy's key highlights

Mood shifting from fear&despair,to hope

Rural economy is resilient

20000Cr OMO slated for 15thOct

RBI to conduct Rs 1 lakhCr #TLTRO,to further augment liquidity

Inflation to ease from Q4
GDP to enter +ve territory from Q4

#Dovish Policy,overall👍
Ample liquidity prevented RBI from reducing #REPO,which has been retained at 4%

Also,inflationary pressures,prevented any further reduction in rates,at this stage

@narendramodi govt completed its 1st half borrowing for FY21 at only 5.82%,lowest in 16 yrs,which is great news💪
Two takeaways from what RBI Governor said&that merit more attention,are

Risk weights will be assigned to all #HomeLoans henceforth,in relation to loan to value ratio,to de-risk home loans

Market operations to be allowed for State Development Loans,#SDLs,to ease States' finances
Read 4 tweets
7 Oct
As @narendramodi ji completes 20 remarkable yrs of being at the helm,it is time to re-plug my book #TruthandDare,which captures everything--from the #Gujarat model of development,which saw 15% growth in 2005-06,to new age #Modinomics,which has lifted over 75mn people from poverty
Price of #NaturalGas will be determined by market forces,to increase affordability👇

It will debottleneck E&P sector& make e-bidding,competitive &transparent

Will reduce demand-supply anomalies&imports

Bridge Trade deficit in Oil&gas

#CabinetDecisions by @narendramodi govt💪
Another decision by @narendramodi gov is the approval for 16.6km Kolkata East West rail corridor,that will connect Howrah on West Bank of Hoogly river,with Salt Lake City on East bank

Total project cost,8575Cr;will boost mass transit system&be ready by Dec2021
#CabinetDecisions
Read 8 tweets
3 Oct
BIG news is,double lane,9.02km #AtalRohtangTunnel in Pir Panjal Himalayan range,built at altitude of 3000 metres from mean sea level

@narendramodi govt builds world's longest,high altitude tunnel that can handle 3000 cars and 1500 trucks per day,at speed of 80km/hr--Infra push💪
It has state of the art electro mechanical system,including semi transverse ventilation system, SCADA controlled firefighting, illumination&monitoring system

#AtalTunnel is extremely significant for India's defence&will reduce Leh-Manali-Lahaul-Spiti travel time by 46km/6 hrs💪
Built by BRDO,#AtalRohtangTunnel has telephone facility at every 150 metre stretch,a fire hydrant every 60 metre,emergency exits at every 500 metre,turning cavern every 2.2km, air quality monitors every 1 km, broadcasting&automatic detection system with CCTVs,at every 250 metre
Read 4 tweets
22 Sep
#LabourCodes provide exemplary flexibility to industries;Definition of "fixed term" employment has been changed,making it easier for firms to hire contractual workers

Fixed term/Contractuals&regular workers will enjoy equal benefits,in many spheres,to protect Contractual workers
Social SecurityCode by @narendramodi govt will universalize social security by bringing informal&platform workers, under its ambit

Firms with less than 20 workers can join #EPFO to get social security benefits

Big move by @narendramodi govt to give informal sector a safety net
Internal workers will be free to voluntarily join employee state insurance,#ESI,scheme for getting healthcare benefits

#SocialSecurityCode says,all employees will now have offer letter

States&Centre will create database on #migrant workers&offer them several benefits-Good move
Read 8 tweets
21 Sep
#FarmBills will soon be legislations,nothwithstanding antics in #rajyashabha,by likes of
#DerekOBrien& #SanjaySingh

@narendramodi,famously said, "Mind is never a problem;Mindset is"!

My #Oped in @DailyGuardian1 dissects,historic FarmBills, threadbare👇

thedailyguardian.com/modi-govts-far…
My Oped in #TheDailyGuardian which discusses each of the 3 #FarmBills in great detail,tells you why the Bills by @narendramodi govt will not only end #Monopoly by #Arhatiyas,but will also end the #Monopsony of APMC Mandis-Yes, you heard it right--Monopsony is worse,than Monopoly
#AgriReforms by @narendramodi👇

Onboarding 1000 #eNAMs

Setting up #FPOs to improve farmers' bargaining power

1 lakh Cr #AgriFund for investment in Post Harvest Infra

#InterestSubvention of 2%

Issuance of 6.7Cr+ #KCCs&Rs 6000 to over 14Cr farmers,via #PMKisan

#FarmBill2020
Read 5 tweets
19 Sep
Apart from historic #FarmBills to defang APMC,amendments to
#InsolvencyandBankruptcyCode,by @narendramodi gov,merit attention

IBC Bill mandates that default on repayment wef March25,2020 would not be considered for initiating insolvency proceedings for at least 6mnths-Big move
This amendment to #IBC will aid #MSMEs in particular,who may have been impacted by lockdown

Guiding principle of IBC by @narendramodi gov has been #Resolution of a distressed unit,to keep it as #GoingConcern

#Liquidation is the last resort&updated IBC Bill seeks to further that
Big highlight of #MonsoonSession is #Supplementary demand for addnl spending of 2.36 lakhCr by @narendramodi gov due to #Covid, of which 1.67 lakhCr is cash outgo

40000Cr more for #MNREGA
20000Cr for #PSBRecapitalisation
44340Cr as #RevenueDeficit grant to States&2262Cr to #SDRF
Read 4 tweets

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