Prime Minister, Mr. Narendra Modi, announced a special economic package of Rs 20 lakh crore.This note summarises the key measures proposed under the economic package.
1.Measures for businesses (including MSMEs)
Financial Highlights
- Collateral free loans for businesses
- Corpus for MSMEs
- Subordinate debt for MSMEs
- Schemes for NBFCs
- Employee Provident Fund (EPF)
- Statutory PF contribution
- Street vendors
Policy Highlights
- Expediting payment of dues to MSMEs
- Insolvency resolution
- Disallowing global tenders
- Reduction in TDS and TCS rates
- Ease of doing business for corporates
Legislative Highlights
- Definition of MSME
- Initiation of insolvency proceedings
- Amendments to Companies Act, 2013
2.Housing
Financial Highlights
- Credit Linked Subsidy Scheme for Middle Income Group (MIG)
Policy Highlights
- Support to real estate sector
3.Key Measures Taken by Reserve Bank of India (RBI)
4. Government Reforms
5.Agriculture and Allied sectors
6.Migrant Workers
7. Civil Aviation
8.Defence
9.Energy
10.Social Sector
All the announcements of Aatma Nirbhar Bharat Abhiyaan are explained in detail in the attached PDF file released by the Government of India