Atmanirbhar Bharat Abhiyan – COVID 19 Relief Package, Economic Package

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Atmanirbhar Bharat Abhiyan – COVID 19 Relief Package, Economic Package: The Atmanirbhar Bharat Abhiyan scheme was announced by the respected Prime Minister Shri. Narendra Modi on 12th May 2020. The main objective of providing this scheme is to make India a Self-dependent nation. The scheme of “Atmanirbhar Bharat Abhiyan” is also known to be the “Self-Reliant India Mission”. This scheme was announced to isolate and get rid of the pandemic situation of the COVOID 19. The budget announced for the Atmanirbhar Bharat Abhiyan 2020 as an economic package is around Rs.20 Lakh Crores. Where Rs.1.70 Crores were announced under the scheme of Pradhan Mantri Garib Kalyan Yojana (PMGKY) for those who were attached by COVID-19.

Atmanirbhar Bharat Abhiyan – Overview

Important Key Points of Atmanirbhar Bharat Abhiyan

• The economic package was announced by the Union Government, which comes under the economy, polity, disaster, management of the UPSC syllabus.
• The total budget announced for the Atmanirbhar Bharat Abhiyan is around the Rs.20 Lakh Crores.
• The budget includes the Rs.1.70 Lakh Crores for the pandemic Corona relief package.
• This scheme was announced on the 12th of May 2020.
• The budget Rs.20 Lakh Crores comes under almost 10% of the GDP of the Indian Country.
• Package of the Atmanirbhar Bharat Abhiyan emphasises on land, labour, liquidity and the laws.

There are five pillars regarding the Atmanirbhar Bharat Abhiyan. They are:

1. Economy
2. Infrastructure
3. Technology Driven arrangement and the systems of the 21st Century
4. Demand
5. Vibrant Demography

There are four Tranches for the scheme of Atmanirbhar Bharat Abhiyan. Let us know about it from the below. They are:

Tranche-1

Employees/ Tax Payers:

• 25% of the Tax Deduction at Source(TDS) and the Tax Collection at Source (TCS) were cut for the next year.
• PMGKY extended the EPF support, provided to low-income organized workers in small-scale units were extended for another 3 months.

NBFCs/ MSMEs:

• For the NBFCs Rs.30,000 Crore special liquidity scheme, under which investment will be made in the grade debt papers of the NBFCs.
• The Government and the Central Public sector enterprises will be releasing the total funds due to MSMEs within a span of 45 days.

Discoms:

Under the liquidity Injection, Rs.90,000 crores were announced.

Tranche-2

The second Tranche includes the free food grains as a support for the migrant workers who do not hold the Ration Card.

Free Food:

The Central Government will provide the free food grains for the migrant workers who do not hold the Ration card for 2 months and spend Rs.3,500 crores on this package.

Credit Facilities:

Many of the organizations are offering some amount to the low annual families and the amount will be credited to them.

MGNREGA:

It is state-directed to enroll migrant workers who are returning to their native places in the scheme of the MGNREGA.

Affordable Rental Housing:

The credit will be linked to the subsidy scheme for the lower-middle-class housing under the PMAY was extended for May in the year 2021.

Tranche-3

The third Tranche focuses on agricultural marketing reforms and consumers.

Inter-State Trade:

• Provides the barrier-free inter-state trade of commodities and for the e-training.
• Which allows to sell at the attractive prices beyond the current mandi system.

Contract Farming/ Deregulating Produce:

• The contract farming plans to ensure facilitative legal frames for the framing.
• The stock limits do not apply to processors and the exporters.

Agriculture:

The building of farm-gate infrastructure and the supports logistics for the fish workers, livestock farmers, vegetable growers, and many investments is around Rs.1.5 lakh crore.

Tranche – 4

This section of the Tranche-4 of Atmanirbhar Bharat Abhiyan includes defence, aviation, space and many. Here is a huge space of the expansion for the package stimulus. Where it looks like more industrial reforms rather than an economic reforms package or the stimulus.

Defence:

• The limit of 49% to 74% will be for the FDI in the section of the defence manufacturing under the automatic route will be raised.
• The stock market to improve autonomy, efficiency and accountability will be listed and corporatized by the Ordnance Factory Boards(OFB).

Minerals:

• The coal Monopoly will be removed with the commercial mining introduction on a revenue-sharing basis.
• 50 coal blocks are allowed in the private sector.

Space:

• Private involvement in space will be encouraged.
• ISRO facilities and participation in future projects on space travel and the planetary explanation are playing a major role.

Atomic:

PPP mode research reactors would be set up for the production of the Medical isotopes.

Power:

Power basis companies and all the utilities and distribution of U.T.s will be privatized based on the production of medical isotopes.

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