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Major announcements and policy reforms under Aatma Nirbhar Bharat Abhiyan

25 May 2020

The COVID-19 pandemic has posed a severe threat to the economy of the country. To overcome these testing times, Hon’ble PM Shri Narendra Modi has come up with Aatma Nirbhar Bharat Abhiyan that promotes local economy. A special and comprehensive economic package of Rs 20 lakh crore that accounts for 10% of India’s GDP, has been announced to bring the economy back on track. Hon’ble Finance Minister Smt Nirmala Sitharaman further announced structural reforms across various sectors to pave the way for Aatma Nirbhar Bharat Abhiyan.

Some major announcements in various have been listed below:

MSME Sector

Rs 3 lakh crore Collateral free Automatic Loans have been announced for businesses including MSMEs. Some welfare measures include:

  1. Rs 50,000 crore equity infusion through MSME Fund of Funds
  2. Reduction of EPF contribution for businesses and workers for 3 months
  3. Extension of due date of all income tax returns for FY 2019-20 till Nov 30, 2020
  4. Rs 45,000 crore Partial Credit Guarantee Scheme 2.0

For details, click here

Poor including farmers and migrant workers

  1. Free supply of food grains to migrants for 2 months
  2. Affordable Rental Housing Complexes for migrants/urban poor
  3. Rs 5000 crore Special Credit Facility for street vendors
  4. Rs 30,000 crore Additional Emergency Working Capital Funding for farmers through NABARD
  5. Rs 2 lakh crore Concessional Credit Boost to 2.5 crore farmers through Kisan Credit Cards

For details, click here

Agriculture, Animal Husbandry, Fisheries

  1. Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers
  2. Rs 20,000 crore for fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY)
  3. Rs 15,000 crore for Animal Husbandry Infrastructure Development Fund
  4. Rs 500 crore for beekeeping initiatives
  5. Amendments to Essential Commodities Act to enable better price realisation for farmers
  6. Agriculture Marketing Reforms to provide marketing choices to farmers
  7. Agriculture produce price and quality assurance

For details, click here

New Horizons of Growth

1. Policy reforms to fast track investment to pave way towards Aatma Nirbhar Bharat
2. Policy reforms in coal sector, mineral sector, defense production
3. Private participation in space activities
4. More world class airports through PPP

For details, click here

Government Reforms and Enablers

1. Rs 40,000 crore increase in allocation for MGNREGA to boost employment
2. Health reforms and initiatives to increase investment in public health and to prepare the nation for future pandemics
3. Technology driven education with equity post COVID
4. Enhancement of Ease of Doing Business through IBC related measures
5. Public Sector Enterprise Policy for a Self Reliant India

For details, click here

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