Home » Trending » All the announcements made my FM in today’s 11 am speech. ‘THE LAST PHASE OF THE ECONOMIC PACKAGE WHICH IS ANNOUNCED TODAY’

All the announcements made my FM in today’s 11 am speech. ‘THE LAST PHASE OF THE ECONOMIC PACKAGE WHICH IS ANNOUNCED TODAY’

Union Finance Minister Nirmala Sitharaman will address the media on Sunday at 11 am for the fifth and final phase for 20 lakh government package.

In her fourth phase, she announced the structural reforms in 8 sectors coal, minerals defence production, airspace management, space sectors etc.

Sitharaman said. “Commercial mining is being introduced within the coal sector and therefore the age-old government monopoly is being removed. The commercial mining of coal is going to be done on a distribution basis. An amount of Rs 50,000 crore is being provided for evacuation infrastructure within the coal sector.”

In Civil Aviation, Sitharaman said that “Restrictions on the utilisation of Indian Air Space will be eased so that civilian flying becomes more efficient. We will bring a complete advantage of Rs 1000 crore per annum for the aviation sector.”

“We have made several announcements and introduced many measures. We also made sure people don’t need to struggle to file taxes and have given a boost to the MSMEs,” the minister of finance said.

The announcement made by the Finance Minister on 13th May which was the first phase was majorly focussed on MSMEs, the Second phase was focussed on Migrant Labourers on Thursday.

The government will be increasing investments in public health to be absolutely ready for such eventualities in future,” said Sitharaman.
She also said that there will be a special focus on health and wellness for villagers in India.

In the last phase and the final phase, she talked about the 20 crores “Aatma Nirbhar Bharat” package.

Minister announced seven phases which include MGNREGA, health, education, businesses and COVID, public and private sectors.
Here are the big stories of the final phase which is said by Minister:

States so far borrowed only 14 per cent of the limit which they are authorised for. 86 per cent of the limit remains unutilised. Centre has decided to increase borrowing limits of states from 3 per cent to 5 per cent of Gross State Domestic Product (GSDP) for 2020-21 Pvt companies which list non-convertible debentures on stock exchanges not to be regarded as listed firms.

Debts due to COVID19 will not be included in the category of ‘default’.

There are no fresh insolvency procedures. The same will continue for the next year: Nirmala Sitharaman Differently-abled children to also get similar facility: Nirmala Sitharaman One Class – One Channel – From classes 1st to 12th
Investments at the grassroots level will be ramped up.

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