FM Sitharaman reviews implementation of AatmaNirbhar Bharat Package


In an official release, the ministry said the Ministries and Departments concerned have started implementing the announcements under the 3 AatmaNirbhar Bharat Packages (ANBP). The progress of implementation is being reviewed and monitored regularly.

“Under an Emergency Credit Line Guarantee Scheme (ECLGS), as on 04.12.2020, as reported by Public Sector Banks, top 23 Private Sector Banks and 31 NBFCs, additional credit amounting to 2,05,563 crore has been sanctioned to 80,93,491 borrowers, while an amount of 1,58,626 crore has been disbursed to 40,49,489 borrowers,” the release said.

The scheme was further amended on 26 November, 2020 and the duration of the scheme has been extended till 31 March, 2021; also, the turnover limit prescribed therein has been removed. Operational guidelines of ECLGS 2.0 were issued on 26 November, 2020.

It is expected that 45 lakh units can resume business activity and safeguard jobs through this scheme.

“As on 04.12.2020, Public Sector Banks (PSBs) have approved the purchase of a portfolio of 27,794 crore and are currently in process of approval/negotiations for 1,400 crore. The timeline for purchase of bonds or Commercial Papers (CPs) has been further extended till 31.12.2020,” the release further said.

“As on 04.12.2020, 25,000 crore has been disbursed out of this special facility. Balance amount of 5,000 crore under Special Liquidity Facility (SLF) allocated to NABARD by RBI for smaller Non-Banking Financial Companies (NBFCs) and Non-Banking Financial Companies-Micro Finance Institutions (NBFCs-MFIs),” the ministry said.

Besides, NABARD had issued the guidelines on 6 October, 2020 to roll out disbursement out of SLF for smaller NBFCs and NBFC-MFIs.

Further, proposals amounting to 690 crore has been sanctioned to 6 NBFCs-MFIs out of the balance amount of 5,000 crore. Disbursement of 130 crore has been done till 4 December, 2020.

Moreover, a special drive was undertaken by the Department of Financial Services under the Ministry of Finance to provide concessional credit to PM-KISAN beneficiaries through Kisan Credit Cards.

“Central Board of Direct Taxes (CBDT) has issued refunds of over 1,45,619 crore to more than 89.29 lakh taxpayers between 1st April 2020 and 8th December 2020. Income Tax refunds of Rs. 43,274 crore have been issued in 87,29,626 cases and corporate tax refunds of Rs. 1,02,345 crore have been issued in 1,99,554 cases,” the release stated.

Additionally, it has been decided to increase the safe harbour in real estate sector to 20% from 10% under section 43CA of the Act from Novermber 12, 2020 to June 30, 2021. This safe harbour will only be applicable for primary sale of residential units that are valued up to 2 crore. This comes in an attempt to boost demand and enable the real-estate developers to liquidate their unsold inventory at a substantially lower rate through which hime buyers could benefit too.

Consequent to the announcement, Central Board for Direct Taxes (CBDT) has issued a press note on 13.11.2020, giving effect to the same announcement.

In terms of Income tax refunds, over 89.29 lakh taxpayers have received more than 1,45,619 crore refunds from the CBDT between April 1 and December 8 this year. Income Tax refunds of Rs. 43,274 crore have been issued in 87,29,626 cases & corporate tax refunds of Rs. 1,02,345 crore have been issued in 1,99,554 cases.

27 state governments have submitted their proposals under the special interest-free 50-year loans scheme for new and ongoing capital works/projects. This scheme was announced under the AatmaNirbhar Bharat Package that will provide loans to states for capital expenditure of 12,000 crore.

So far, projects amounting to Rs. 8455.61 crore have been approved under part-1 and part-2 of the scheme an amount of Rs. 4227.80 crore, as 1st instalment, has been released to the states.

As a part of reviving the housing and real estate sector, total of 87,000 houses/flats will be completed under the Special Window for Affordable and Mid Income Housing (SWAMIH). 135 projects have been approved with an outlay of 13,200 crore.

18,000 crore will be provided over the Budget Estimates for 2020-21 for Pradhan MantriAwaasYojana – Urban through additional allocation and Extra Budgetary Resources. This is additional to the 8000 crore that was already allocated this year.

The government has approved an equity infusion of 6,000 crore in National Investment and Infrastructure Fund (NIIF) Debt Platform, comprising of Aseem Infrastructure Finance Limited and NIIF Infrastructure Finance Limited in its meeting held on 25.11.2020.

20,000 crore of subordinate debt has been allocated to stressed MSMEs. The State Bank of India has identified 8,502 accounts and the disbursement process is in progress. This scheme was finalised and launched on 24 June, 2020.

The MSMEs have also received a 50,000 crore equity infusion through Fund of Funds. The ministry had previously approved and issued guidelines for Sel-Reliant India (SRI) fund on August 5, 2020. The NSIC Venture Capital Fund Ltd., the subsidiary company of National Small Industry Corporation Ltd. (NSIC) has been incorporated under Companies Act 2013. This Special Purpose Vehicle (SPV) will anchor the Mother Fund

Following this, SBI Cap Ventures Ltd. has been selected as Fund Manager/Asset Management Committee. SBI Cap has already started working towards preparation of Private Placement Memorandum (PPM). The Ministry of MSME is taking further steps for operationalisation of the fund.

21,000 crore of MSME dues have been paid in the last 7 months i.e, May 2020 by the Central Government Agencies and Central Public Sector Enterprises (CPSEs). The highest level of Procurement was achieved in October of over 5,100 crore and payment of over 4,100 crore.

“Going by the reports received in first 10 days for November 2020, this level of performance is expected to be surpassed as procurement of about 4,700 crore and payment of about 4,000 crore have already been reported,” the release stated.

Farmers have been provided with an Agri Infrastructure Fund of 1 lakh for farm-gate infrastructures. This fund was approved by the Union Cabinet on July 8, 2020 and formally launched by Narendra Modi on August 9, 2020.

Within 30 days after the Cabinet formally approved the scheme, the first sanction of Rs. 1,128 crore was made to over 2,280 farmer societies. Memorandums of Understanding (MOU) with all 12 Public Sector Banks, 9 Private Sector Banks and 33 Cooperative Banks have been signed by Department of Agriculture Cooperation & Farmers Welfare (DAC&FW).

15,000 crore have been allocated to the Animal Husbandry Infrastructure Development Fund (AHIDF). After approving the scheme on June 24, 2020, the cabinet signed an MoU with Small Industries Development Bank of India (SIDBI) was signed on 27.07.2020 for development of online Portal.

A total 313 applications have been received as on December 9, 2020 and the same are under process.

Through the Pradhan MantriMatsyaSampadaYojana (PMMSY) scheme, 20,000 crore have been sanctioned to fishermen. In May 2020, the government has approved 20,250 crore under the scheme. Operational guidelines of PMMSY issued to States/UTs on 24th June, 2020 along with 5 year fish production targets, first 2 years indicative financial allocations.

“There has been an overwhelming response from the State/UTs as Shelf of Projects received of Rs. 6,445 crore from 32 States/UTs,” the statement said.

As on 9th December 2020, the Department of Fisheries sanctioned projects worth of Rs. 2,182 crore. Another 322 crore for 2 states and Phase-2 proposals of 7 states/UTs are under process.

The Government has extended the CLSS for MIG (Annual income: Rs. 6 – 18 lakh) up to 31st March 2021. Order for extension was issued on 5th May, 2020.

As on 8th December, 2020, 1,04,354 new MIG beneficiaries have been released subsidy under the Scheme during 2020-21, taking the aggregate number to 4.29 Lakh.

To boost employment under AatmaNirbhar Bharat RozgarYojana, the Cabinet has approved the proposal on 09.12.2020. Modalities/guidelines to implement the scheme are being framed.

Under the 1st supplementary demand for grants 20-21, 40,000 crore have been received as on December 10, 2020. The total person days generated till that date has gone up 49% by 273.84 crore days as compared to last year.

Loans worth Rs. 118,273 crore have been sanctioned till December 10, 2020 for DISCOMs under the liquidity infusion package. Rs. 31,136 crore has already been disbursed/ released. Another release of 30,000 crore to various states is under process.

Thermal coal imports in FY21 (upto 31.10.2020) down by 33% for power sector, overall by 27%. An Inter-Ministerial Committee (IMC) constituted for monthly review and decisions/facilitation and portal for import monitoring is currently under development.

“Ministry of Coal/ Coal India Ltd. is drawing up a large evacuation plan for enhanced CIL’s target of 1 billion tons coal production by 2023-24 plus coal production from private blocks,” the press release stated.

7 New Rail lines are under implementation with an investment of Rs. 13,775 crore as on December 10, 2020. In First Mile Connectivity Phase-I, 35 projects for mechanised transfer of 404 MTPA coal with a cost of Rs. 12,505/- crore under implementation. Tenders for all 35 projects have been issued. 2 projects have been commissioned. All projects completion by 2023-24.

As on 10th December 2020, concessions in commercial terms of Rs. 6663.78 crore already extended by CIL till 02.12.2020.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link
#Sitharaman #reviews #implementation #AatmaNirbhar #Bharat #Package

Leave a Comment