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Finance Minister shares details of Rs 20 lakh cr stimulus package under Atma-Nirbhar Bharat Yojana.

Newdelhi:13/5/20: Government today announced the first tranche of stimulus packages,  under the Atma-Nirbhar Bharat Yojana. Prime Minister Narendra Modi had yesterday in his address to the nation, made a clarion call of making India self-reliant and had announced the Atma-Nirbhar  Bharat Yojana.

Addressing media in New Delhi, Finance Minister Nirmala Sitharaman gave details regarding these financial packages equaling to 10 percent of the national GDP and amounting to 20 lakh crore rupees. She said the financial stimulus will cater to various sections of the society including MSMEs, labourers, middle class and Industries.

Ms. Sitharaman announced 15 special financial packages of 6 lakh 40 thousand crore rupees benefitting a wide array of sectors including MSMEs, Discoms, Real Estate, Middle Class, Tax Payers and others. In a historical decision, the ambit of Micro, Small and Medium Enterprises (MSMEs) have been widened resulting in inclusion of many small and micro industries under this sector. This decision of changing the definition of MSMEs will increase competition and productivity in the sector.

In a major boost to the MSME sector, a collateral-free loan of 3 lakh crore rupees has been announced with a moratorium of 12 months. These loans will benefit 45 lakh small and medium units. Another package of 20 thousand crore rupees for stressed MSMEs benefitting 2 lakh units have also been announced.

Finance Minister informed that 50 thousand crore rupees will be infused in the MSMEs through the equity channel. Opening up avenues for indigenous companies, Ms. Sitharaman said that tenders for Government procurement up to 200 crore rupees will no longer be through Global Tender route. e-Market linkage for MSMEs has been announced to ensure wider reach for sale of products from the small and medium industries. Government bodies and PSUs have been directed to clear all pending dues of MSMEs within next 45
days.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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