{"id":610,"date":"2020-05-14T08:58:39","date_gmt":"2020-05-14T08:58:39","guid":{"rendered":"https:\/\/myfintree.com\/blog\/?p=610"},"modified":"2020-05-14T08:58:39","modified_gmt":"2020-05-14T08:58:39","slug":"highlights-of-atma-nirbhar-bharat-abhiyan-phase-1","status":"publish","type":"post","link":"https:\/\/myfintree.com\/blog\/highlights-of-atma-nirbhar-bharat-abhiyan-phase-1\/","title":{"rendered":"Highlights of Atma Nirbhar Bharat Abhiyan (Phase &#8211; 1)"},"content":{"rendered":"<p><!--more--><!--more-->Atma Nirbhar Bharat Abhiyan, towards a Self Reliant Nation<\/p>\n<p>Highlight of Phase 1 Stimulus Package announced by Finance minister, Ms. Nirmala Sitharaman on 13 May 2020.<\/p>\n<p>This Stimulus package is for spur Growth &amp; Become self Reliant.<\/p>\n<p>The 5 pillars of production are:<\/p>\n<ol>\n<li>Economy ,<\/li>\n<li>Infra ,<\/li>\n<li>Tech Driven System ,<\/li>\n<li>Demography ,<\/li>\n<li>Demand.<\/li>\n<\/ol>\n<p>The focus here is gradual increase in Ease of doing Business<\/p>\n<p>A Stimulus package of Rs. 20 lac crs out of which Liquidity created so far is as follows:<\/p>\n<p>A. RBI had given 5.74 lac crs<\/p>\n<p>B. Finance Min 1.7 lac crs<\/p>\n<p>The new reforms made for Atmanirbhar Bharat Abhiyan:<\/p>\n<ol>\n<li>Tax Relief<\/li>\n<\/ol>\n<ul>\n<li>Income Tax filling for the year 2019-20 dates has been extended from 31st July 2020 to 31st Oct 2020. New extended dates for tax audit and date of assessment as well.<\/li>\n<li>Reduced TDS \/ TCS rates by 25% till March 31 2021. It will create Rs.50000 crs liquidity<\/li>\n<\/ul>\n<ol start=\"2\">\n<li>Under Pradhan Mantri Garib Kalyan Package (PMGKP), payment of 12% of employer and 12% employee contributions was made into EPF accounts of eligible establishments.<\/li>\n<\/ol>\n<ul>\n<li>This was provided earlier for salary months of March, April and May 2020<\/li>\n<li>This support will be extended by another 3 months to salary months of June, July and August 2020<\/li>\n<li>This will provide liquidity relief of Rs 2500 cr to 3.67 lakh establishments and for 72.22 lakh employees.<\/li>\n<\/ul>\n<ol start=\"3\">\n<li>NBFCs\/HFCs\/MFIs are finding it difficult to raise money in debt markets. Special liquidity scheme<\/li>\n<\/ol>\n<ul>\n<li>Under this scheme investment will be made in both primary and secondary market transactions in investment grade debt paper of NBFCs\/HFCs\/MFIs<\/li>\n<li>Will supplement RBI\/Government measures to augment liquidity \u2022 Securities will be fully guaranteed by GoI<\/li>\n<li>This will provide liquidity support for NBFCs\/HFC\/MFIs and mutual funds and create confidence in the market Partial credit guarantee scheme .<\/li>\n<li>Existing PCGS scheme to be extended to cover borrowings such as primary issuance of Bonds\/ CPs (liability side of balance sheets) of such entities .<\/li>\n<li>A paper and below including unrated paper eligible for investment (esp. relevant for many MFIs)<\/li>\n<li>This scheme will result in liquidity of Rs 45,000 crores<\/li>\n<\/ul>\n<ol start=\"4\">\n<li>Under Atma Nirbhir Bharat Abhiyan Six measures are announced for MSMEs<\/li>\n<\/ol>\n<ul>\n<li>3 lakh crs loans for MSMEs with 100 crs Turnover with loan tenure of 4 years with monotorrium of 12 months period (collateral free loan) Hence 45 lakh MSMEs can benefit via 3lakh crs<\/li>\n<li>No Global Tender for Govt Procurement Upto Rs.200 crs<\/li>\n<li>Stress &amp; NPA MSMEs will get Debt based solution of Rs.20000 crs. Therefore 2 lac stressed MSMEs will be benefit out of this<\/li>\n<li>Fund of Fund for MSEMs Rs.50000 crs of Equity infusion. Which MSEMs had capacity to do well will be benefit out of this<\/li>\n<li>New definition for MSMEs<\/li>\n<li>Within Next 45 days Government will clear all dues of MSEMs<\/li>\n<\/ul>\n<ol start=\"5\">\n<li>Under Atmanirbhar Bharat RBI has given relaxation to bank regarding cash reserve ratio to enhance liquidity . Introduced Targeted long term repo operation of 1,00,050 crore for fresh deployment in various investment grade corporate bonds bonds, commercial paper, and non-convertible debentures. Atmanirbhar bharat has brought special relief to NABARD , SIDBI , NHB and also NBFCs AND MFIs<\/li>\n<\/ol>\n<div id=\"s-share-buttons\" class=\"horizontal-w-c-square s-share-w-c\"><a href=\"http:\/\/www.facebook.com\/sharer.php?u=https:\/\/myfintree.com\/blog\/highlights-of-atma-nirbhar-bharat-abhiyan-phase-1\/\" target=\"_blank\" title=\"Share to Facebook\" class=\"s3-facebook hint--top\"><\/a><a href=\"http:\/\/twitter.com\/intent\/tweet?text=Highlights of Atma Nirbhar Bharat Abhiyan (Phase &#8211; 1)&url=https:\/\/myfintree.com\/blog\/highlights-of-atma-nirbhar-bharat-abhiyan-phase-1\/\" target=\"_blank\"  title=\"Share to Twitter\" class=\"s3-twitter hint--top\"><\/a><a href=\"https:\/\/plus.google.com\/share?url=https:\/\/myfintree.com\/blog\/highlights-of-atma-nirbhar-bharat-abhiyan-phase-1\/\" target=\"_blank\"  title=\"Share to Google Plus\" class=\"s3-google-plus hint--top\"><\/a><a href=\"http:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/myfintree.com\/blog\/highlights-of-atma-nirbhar-bharat-abhiyan-phase-1\/\" target=\"_blank\" title=\"Share to LinkedIn\" class=\"s3-linkedin hint--top\"><\/a><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-610","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/comments?post=610"}],"version-history":[{"count":4,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/610\/revisions"}],"predecessor-version":[{"id":614,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/posts\/610\/revisions\/614"}],"wp:attachment":[{"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/media?parent=610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/categories?post=610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myfintree.com\/blog\/wp-json\/wp\/v2\/tags?post=610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}