Atmanirbhar Bharat- PART-1

Call for Aatmanirbhar Bharat or Self Reliant India Movement 

• Five mainstays of Atmanirbhar Bharat Economy, Infrastructure, Framework, Vibrant Demography and Demand.

• Unique financial and thorough bundle of Rs 20 lakhs crores equal to 10 % of India s GDP. 

• Bundle to take into account different segments, including house industry, MSMEs, workers, white collar class, ventures, among others. 

• Striking changes across segments will drive the nation's push towards independence. 

• The time has come to get vocal for our neighborhood items and make them worldwide.

Pradhan Mantri Garib Kalyan Package 

• Rs. 1.70 Lakh Crore alleviation bundle under Pradhan Mantri Garib Kalyan Yojana for the poor to assist them with taking on the conflict against Corona Virus. 

• Protects front of Rs 50 Lakh for each wellbeing laborer. 

• 80 crore destitute individuals given advantage of 5 kg wheat or rice per individual for next 3 months. 

• 1 kg beats for every family unit for nothing consistently for the following 3 months. 

• 20 crore ladies Jan Dhan account holders get Rs 500 every month for next 3 months. 

• Gas chambers, liberated from cost, gave to 8 crore poor families for the next 3 months. 

• Increment in MNREGA pays to Rs 202 every day from Rs 182 to profit 13.62 crore families. 

• Ex gratia of Rs 1,000 to 3 crore poor senior resident, poor widows furthermore, poor Divyang.

• Front stacked Rs 2,000 paid to ranchers under existing PM KISAN to advantage 8.7 crore ranchers. 

• Building and Construction Workers Welfare Fund permitted to be used to give alleviation to laborers.

• 24% of month to month wages to be credited into their PF represents next a quarter of a year for workers beneath Rs 15,000 p.m. in organizations having under 100 laborers. 

• Five crore laborers enlisted under Employee Provident Fund EPF to get non refundable development of 75% of the sum or three months of the wages, whichever is lower, from their records. 

• Breaking point of guarantee free loaning to be expanded from Rs 10 to Rs 20 lakhs for Women Self Help Groups supporting 6.85 crore family units. 

• Region Mineral Fund (DMF) to be utilized for enhancing and increasing offices of clinical testing, screening and so on..

Different Measures 

• On the solicitation of the Government of India, RBI raised the Ways and Means advance restrictions of States by 60% what's more, upgraded the Overdraft span limits. 

• Given all the pending personal assessment discounts up to ₹5 lakh , quickly profiting around 14 lakh taxpayers. 

• Executed "Unique Refund and Drawback Disposal Drive" for all pending discount and disadvantage claims. 

• Both the above measures add up to ₹18,000 crore of discount. 

• Authorized Rs 15,000 crores for Emergency Health Reaction Package.

• Given Relaxation in Statutory and Compliance matters, for example, Expanding last date for Income Tax Returns to June 30,2020.

• Stretching out documenting GST comes back to end of June 2020. 

• 24*7 custom freedom till 30 th June, 2020. 

• Unwinding for 3 months for charge cardholders to pull back money liberated from any ATMs, and so forth Permitting installment before 15 May, 2020 for Motor Vehicle and Health Insurance Policies. 

• Obligatory Board gatherings reached out by 60 days till 30 September. 

• Permitting Extraordinary General Meetings through Video Gathering with e casting a ballot/improved democratic office.

Measures taken by Reserve Bank of India 

• Decrease of Cash Reserve Ratio (CRR) has come about in liquidity upgrade of ₹1,37,000 crores. 

• Directed Long Term Repo Operations (TLTROs) of ₹1,00,050 crore for new organization in speculation grade corporate securities, business paper, and non convertible debentures. 

• TLTRO of Rs.50,000 crore for putting them in speculation grade bonds, business paper, and non convertible debentures of NBFCs, and MFIs. 

• Expanded as far as possible for acquiring for the time being under the peripheral standing office (MSF), permitting the financial framework to profit an extra ₹1,37,000 crore of liquidity at the diminished MSF rate.

• Declared unique renegotiate offices to NABARD, SIDBI and the NHB for an aggregate sum of 50,000 crore at the approach repo rate.

• Declared the opening of a unique liquidity office (SLF) of 50,000 crore for shared assets to lighten increased liquidity pressures. 

• Ban of a quarter of a year on installment of portions an installment of Interest on Working Capital Facilities in regard of all Term Loans. 

• Facilitating of Working Capital Financing by decreasing edges. 

• For advances by NBFCs to business land segment, extra time of one year has been given for expansion of the date for beginning for business tasks (DCCO).

1). Rs 3 lakh crores Collateral free Automatic Advances for Businesses, including MSMEs 

• Organizations/MSMEs have been gravely hit due to COVID 19 need extra financing to get operational liabilities assembled together, purchase crude material and restart business. 

• Choice Emergency Credit Line to Businesses/MSMEs from Banks furthermore, NBFCs up to 20 of whole remarkable credit as on 29 2 2020. 

• Borrowers with up to Rs 25 crore remarkable and Rs 100 crore turnover qualified. 

• Credits to have multi year tenor with ban of a year on Head reimbursement. 

• Enthusiasm to be topped 100 credit ensure spread to Banks and NBFCs on head and intrigue. 

• Plan can be profited till 31 st Oct 2020. 

• No assurance expense, no new security. 

• 45 lakh units can continue business movement and protect employments.

2). Rs 20,000 crores Subordinate Debt for Stressed MSMEs

• Focused on MSMEs need value support. 

• Go I will encourage arrangement of Rs 20 000 cr as subordinate obligation. 

• Two lakh MSMEs are probably going to profit. 

• Working MSMEs which are NPA or are focused will be qualified.

• Govt will offer a help of Rs 4 000 Cr to CGTMSE.

• CGTMSE will give fractional Credit Guarantee backing to Banks. 

• Advertisers of the MSME will be given obligation by banks, which will at that point be mixed by advertiser as value in the Unit.

3). Rs 50,000 cr. Value mixture for MSMEs through Fund of Funds 

• MSMEs face extreme deficiency of Equity. 

• Store of Funds with Corpus of Rs 10,000 crores will be set up. 

• Will give value financing to MSMEs with development potential and suitability. 

• FoF will be worked through a Mother Fund and few girl reserves.

• Reserve structure will help influence Rs 50,000 cr of assets at little girl subsidizes level.

• Will assist with extending MSME size just as limit. 

• Will urge MSMEs to get recorded on fundamental leading group of Stock Trades.

4). Worldwide tenders to be prohibited upto Rs 200 crores 

• Indian MSMEs and different organizations have frequently confronted out of line rivalry from outside organizations. 

• In this manner, Global tenders will be refused in Government obtainment tenders upto Rs 200 crores.

• Essential changes of General Financial Rules will be affected. 

• This will be a stage towards Self Reliant India atmanirbhar and bolster Make in India.

• This will likewise help MSMEs to build their business. 

5). Other interventions for MSMEs

• MSMEs at present face issues of advertising and liquidity due to COVID. 

• e showcase linkage for MSMEs to be elevated to go about as a substitution for exchange fairs and presentations. 

• Fintech will be utilized to upgrade exchange based loaning utilizing the information produced by the e commercial center. 

• Government has been persistently checking settlement of levy to MSME merchants from Government and Central Public Sector Endeavors. 

• MSME receivables from Gov and CPSEs to be discharged in 45 days.

6). Rs 2500 crore EPF Support for Business and Laborers for 3 additional months 

• Organizations keep on confronting money related worry as they return to work. 

• Under Pradhan Mantri Garib Kalyan Package ( installment of 12 of manager and 12 worker commitments was made into EPF records of qualified foundations.

• This was given before to pay a very long time of March, April and May 2020.

• This help will be stretched out by an additional 3 months to compensation long stretches of June, July and August 2020.

• This will give liquidity help of Rs 2500 cr to 3 67 lakh foundations and for 72 22 lakh representatives. 

7). EPF commitment diminished for Business and Laborers for 3 months Rs 6750 crores Liquidity Support 

• Organizations need backing to increase creation throughout the following quarter.

• It is important to give more bring home pay to workers and furthermore to offer help to managers in installment of Provident Fund contribution.

• In this manner, legal PF commitment of both business and representative will be decreased to 10% each from existing 12 % each for all foundations secured by EPFO for next 3 months.

• CPSEs and State PSUs will anyway keep on contributing 12% as business commitment. 

• This plan will be material for laborers who are not qualified for 24 EPF support under PM Garib Kalyan Package and its augmentation. 

• This will give alleviation to around 6 5 lakh foundations secured under EPFO and about 4 3 crore such workers.

• This will give liquidity of Rs 6750 Crore to businesses and representatives more than 3 months.

8). Rs 30,000 crore Special Liquidity Plan for NBFCs/HFCs/MFIs 

• NBFCs/HFCs/MFIs are thinking that its hard to fund-raise in obligation markets. 

• Government will dispatch a Rs 30 000 crore Special Liquidity Scheme. 

• Under this plan speculation will be made in both essential what's more, optional market exchanges in venture grade obligation paper of NBFCs/HFCs/MFIs. 

• Will enhance RBI/Government measures to enlarge liquidity. 

• Protections will be completely ensured by GoI. 

• This will give liquidity backing to NBFCs/HFC/MFIs also, shared assets and make trust in the market. 

9). Rs 45,000 crore Partial Credit Assurance Scheme 2.0 for NBFCs 

• NBFCs HFCs and MFIs with low FICO assessment require liquidity to do crisp loaning to MSMEs and people. 

• Existing PCGS plan to be stretched out to cover borrowings, for example, essential issuance of Bonds/CPs (obligation side of asset reports) of such elements. 

• Initial 20 of misfortune will be borne by the Guarantor ie ,Legislature of India. 

• AA paper and beneath including unrated paper qualified for speculation (esp pertinent for some MFIs. 

• This plan will bring about liquidity of Rs 45 000 crores.

10). Rs. 90,000 Cr. Liquidity Injection for DISCOMs 

• Incomes of Power Distribution Companies (DISCOMs) have plunged. 

• Uncommon income issue complemented by request decrease.

• DISCOM payables to Power Generation and Transmission Companies is as of now ~ Rs 94,000 cr. 

• PFC/REC to mix liquidity of Rs 90,000 cr to DISCOMs against receivables.

• Advances to be given against State ensures for select motivation behind releasing liabilities of Discoms to Gencos.

• Linkage to explicit exercises/changes : Digital installments office by Discoms for purchasers, liquidation of remarkable contribution of State Governments, Plan to decrease budgetary and operational misfortunes. 

• Focal Public Sector Generation Companies will offer refund to Discoms which will be given to the last purchasers (enterprises). 

11). Alleviation to Contractors 

• Expansion of as long as a half year (without expenses to contractual worker ) to be given by every Central Agency (like Railways, Ministry of Road Transport and Thruways, Central Public Works Dept, and so forth.

• Spreads development/works and merchandise and administrations contracts. 

• Spreads commitments like consummation of work,middle of the road achievements and so on and augmentation of Concession period in PPP contracts. 

• Government organizations to somewhat discharge bank ensures, to the degree contracts are somewhat finished, to ease incomes.

12). Augmentation of Registration and Completion Date of Real Estate Projects under RERA 

• Antagonistic I mpact due to COVID and tasks stand the danger of defaulting on RERA courses of events Time lines should be broadened.

• Service of Housing and Urban Affairs will exhort States/UTs and their Regulatory Authorities to the accompanying impact.

• Treat COVID 19 as an occasion of Force Majeure under RERA.

• Expand the enrollment and culmination date suo moto by a half year for every single enrolled venture lapsing on or after 25 th March, 2020 without singular applications.  

• Administrative Authorities may broaden this for another time of upto 3 months, if necessary.

• Issue new 'Task Registration Certificates' consequently with reexamined courses of events. 

• Broaden courses of events for different sculpture compliances under RERA simultaneously.

• These measures will de stress land engineers and guarantee consummation of tasks with the goal that homebuyers can get conveyance of their booked houses with new courses of events.

13). Rs 50,000 crores liquidity through TDS/TCS rate decrease  

• So as to give more assets at the removal of the citizens, the paces of Tax Deduction at Source ( for non salaried determined installments made to inhabitants and rates of Tax Collection at Source ( for the predetermined receipts will be diminished by 25 of the current rates. 

• Installment for contract, proficient expenses, intrigue, lease, profit, commission, financier, and so on will be qualified for this decreased pace of TDS.

• This decrease will be appropriate for the rest of the piece of the FY 2020 21 I e from tomorrow to 31 st March, 2021. 

• This measure will discharge Liquidity of Rs 50 000 crore.

14). Other Direct Tax Measures 

• Every pending discount to magnanimous trusts and non corporate organizations callings including ownership, association, LLP and Co agents will be given right away.

• Due date of all income tax return  form for FY 2019 20 will be reached out from 31 st July, 2020 31 st October, 2020 to 30 th November, 2020 and Tax review from 30 th September, 2020 to 31 st October, 2020. 

• Date of evaluations getting banished on 30 th September, 2020 reached out to 31 st December, 2020 and those getting banished on 31 st March, 2021 will be reached out to 30 th September, 2021.

• Time of Vivad se Vishwas Scheme for making installment without extra sum will be reached out to 31 st December, 2020.