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Atmanirbhar Bharat Abhiyaan: 10 key highlights from Nirmala Sitharaman's Press Conference

| Updated: Wednesday, May 13, 2020, 17:57 [IST]

New Delhi, May 13: Union Finance Minister Nirmala Sitharaman on Wednesday addressed a press conference where she explained and provided details of Rs 20 lakh crore economic stimulus package that was announced by Prime Minister Narendra Modi as day earlier.

Addressing the conference, The Finance Minister said that the announcements about the economic package is in line with PM Modi's vision. She also backed PM Modi and said that the Prime Minister did not mean isolated India, but a confident India.

Economic package to build self-reliant but not isolationist India: Nirmala Sitharaman Economic package to build self-reliant but not isolationist India: Nirmala Sitharaman

Here are ten key highlights made by the Finance Minister during the press conference:

1. Essentially, this is to spur growth to build a very self-reliant India and that is why this initiative is called 'Atmnirbhar Bharat Abhiyaan.'

2. Prime Minister Narendra Modi laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society.

3. A self-reliant India does not mean that our country would be an isolationist country. It will be a confident country.

4. So far, Rs 52,606 crore has been transferred to 41 crore Jan Dhan account holders, Rs 18,000 crore grain transfers; Ujjwala, divyang and old age have also benefited.

5. We should not forget that we also have a responsibility towards the poor, needy, the migrants workers, divyang and the aged of the country.

Finance Minister addresses media; Provides detail on Rs 20 lakh crore financial package Finance Minister addresses media; Provides detail on Rs 20 lakh crore financial package

6. There is a collateral-free MSME loan that is being provided. This would give a facility of three lakh crore.

7. Rs 20,000 crores subordinate debt for stressed MSME. Two lakh MSMEs are likely to benefit from it.

8. Indian MSMEs and other companies have often faced unfair competition from foreign companies. This would make self-reliant India also then be able to serve 'Make in India'.

9. Government to launch a Rs 30,000 crore Special Liquidity Scheme. Under this, investment would be made in both primary and secondary market transactions in investments graded debt paper of NBFCs, HCFCs and MFIs.

10. Due date of all Income-Tax Return for the financial year 2019-20 will be extended from July 31, 2020, and October 31, 2020, to November 30, 2020.