Thread by @schinchela

@FinMinIndia @nsitharaman is announcing the #AatmaNirbharBharatAbhiyan3 today #PressConference #Bharat #IndiaFightsCorona

Aatmanirbhar Bharat Rozgar Yojana -

Establishments registered under EPFO provide new employment from 1st October 2020 -

1. If you have less than 50 employees, you have to add 2 new jobs to be eligible.
2. If you have more than 50 employees, you have to add 5 new jobs.

Central Government will pay a subsidy for those NEW employees ONLY

1. For establishments upto 1000 employees - Central Government will pay BOTH EMPLOYER AND EMPLOYEE contributions (24%) for 2 years.

2. For establishments more 1000 employees - Central Government will pay ONLY EMPLOYEE contribution (12%) for 2 years.

3. These will be credited to the Aadhaar seeded EPFO accounts.

The Extended Credit Line Guarantee Scheme 2.0 (ECLGS 2.0)

Extended upto 31.03.2021. Rest of the terms remain same.

OLD Extension Update:

https://twitter.com/schinchela/status/1289564025898950656?s=20

26 stressed sectors including HEALTH from Kamath Committee are being allowed into the Extended Credit Line Guarantee Scheme 2.0 (ECLGS 2.0)

NO TURNOVER LIMIT

LIMIT OF OUTSTANDING as on 29.02.2020 - from ₹50 cr to ₹500 cr.

Scheme upto 31.03.2020

Production Linked Incentive Scheme is extended to 10 Champion Sectors (3 given earlier) - at a total cost of ₹1,46,000 crores.

1. Advanced Cell Chemistry Battery - ₹18,100 cr
2. Electronic and Technology Products - ₹5,000 cr
3. Automobile and Autocomponents - ₹57,042 cr

4. Pharmaceutical Drugs - ₹15,000 cr
5. Telecom & Networking Products - ₹12,195cr
6. Textile Products - ₹10,683 cr
7. Food Products - ₹10,900 cr
8. High Efficiency Solar PV Modules - ₹4,500 cr
9. White Goods (ACs and LEDs) - ₹6,238 cr
10. Speciality Steel - ₹6,322 cr

TOTAL - ₹1,45,980 cr.

This is in addition to the ₹51,355 cr PLI announced earlier for 3 sectors.

Additional outlay of ₹18,000 cr to be made towards the Pradhan Mantri Aawaas Yojana (Urban).

12L houses to be grounded (begun) and 18L ongoing houses to be completed.

Support in Government Tenders -
Earnest Money Deposit will NOT be required for tenders in the Central Government till 31.12.2021 (1 year).

Performance Security reduced from 5% to 3% till 31.12.2021 for all Tenders in Construction and Infrastructure. GFR amendment to be done.

Relaxation in IT for Real Estate Purchases -

You can now sell upto 20% lower than circle rates - existing was 10% under section 43CA of IT Act, 1969.

Relief to be provided to buyers vis-a-vis sellers. This is in relation to the calculation of capital gains tax.

New Platform for Debt Financing -
National Investment and Infrastructure Fund (NIIF) has setup a Debt Platform of a NBFC Infra Fund and NBFC Infra Finance Company.

A total amount of ₹1,10,000 cr debt to be issued to infrastructure projects by 2025.
Existing loan book ₹8000cr

Government to invest ₹6,000 cr as equity, NIIF investing an amount of ₹2,000 cr. Rest to be raised from Private Equity.

GAMECHANGER. Infrastructure push is just amazing.

FARMERS to get subsidized fertilizers for an amount of ₹65,000 cr.

571L MT of fertilizers used in the last year, expected to increase to 673L MT in 2020-21

Pradhan Mantri Garib Kalyan Rozgar Yojana is in progress.

Total ₹10,000 cr. to be added to PM Garib Kalyan Rozgar Yojana in the current financial year.

Details of ongoing projects:

https://twitter.com/schinchela/status/1273569064623804416?s=20

Government of India to extend additional ₹3,000 cr Line of Credit to Export Import Bank of India under the IDEAS scheme to be financed.

I have seen EXIM Bank of India working directly. Fantastic move.

Budgetary outlay of ₹10,200 cr is being provided for Capital and Industrial Expenditure for

1. Domestic Defence Equipment
2. Green Energy
3. Industrial Incentives
4. Industrial Infrastructure.

Research and Development Grant for COVID vaccine goes to the Department of Biotechnology, Government of India under COVID Suraksha Mission for a total cost of ₹900 crores.

Only for Research. Nothing related to the distribution etc.

Government of India has announced a total of ₹29,87,641 cr. under the Aatma Nirbhar Bharat Abhiyan, all the three tranches.

This is inclusive of ₹12,71,200 cr from the Reserve Bank of India.

https://twitter.com/schinchela/status/1326813870145605634?s=20