Atmanirbhar Bharat: Everything that Nirmala Sitharaman announced today

New Delhi, Nov 12: Finance Minister Nirmala Sitharaman said that the Indian economy is witnessing a strong recovery after the lockdown.

The FM said this at a press conference to announce more stimulus measures to boost growth, she said macro-economic indicators are pointing towards recovery.

She noted that COVID-19 active cases have declined from over 10 lakh to 4.89 lakh with case fatality rate (CFR) at 1.47 per cent.

Giving out details of recovery, she said composite purchasing managers index (PMI) rose to 58.9 per cent in October versus 54.6 per cent in the previous month, registering strongest increase in output in close to nine years.

Here is a look at everything that the Finance Minister announced:

Guaranteed credit:

Subsidy will be credited upfront in Aadhaar-seeded EPFO accounts

Emergency credit line:

Entities will get additional credit up to 20% of outstanding credit, repayment can be done in five years' time (1 year moratorium + 4 years repayment)

Boost for manufacturing:

Emergency Credit Line Guarantee Scheme for MSMEs, businesses, MUDRA borrowers and individuals (loans for business purposes), has been extended till March 31, 2021 - announces Finance Minister

10 champion sectors:

Here are the 10 champion sectors for which the government is launching Production Linked Incentive Scheme.

A total amount of nearly 1.5 lakh crore has been earmarked across sectors, for next five years.

More for champion sector

Production Linked Incentive worth ₹ 1.46 lakh crore is being offered to 10 champion sectors, this will help boost competitiveness of domestic manufacturing.

Will give a big boost to economy, investment, exports & job creation: FM

PM Awaas Yojana:

Will help ground 12 lakh houses and complete 18 lakh houses.

Will create additional 78 lakh jobs and improve production and sale of steel and cement, resulting in multiplier effect on economy.

Support for construction:

To provide ease of doing business and relief to contractors whose money otherwise remains locked up, performance security on contracts will be reduced to 3%

EMD for tenders will be replaced by bid security self-declaration

Demand booster:

Differential between circle rate and agreement value in real estate income tax is being increased from 10% to 20%

From today till June 30, 2021, for primary sale of residential units up to ₹ 2 crore.

The income tax relief provides incentive to middle class to buy homes: FM

Platform for infra-debt financing:

Govt. will make ₹ 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise ₹ 1.1 lakh crore by 2025 for financing infrastructure projects

Support for agriculture:

₹ 65,000 crore fertilizer subsidy will be provided to farmers.

Fertilizer consumption is going up significantly, increased supply of fertilizers will ensure that forthcoming crop seasons will not be affected for want of adequate fertilizers

Boost for rural employment:

Additional outlay of ₹ 10,000 crore is being provided for #PMGaribKalyanRozgarYojana, announces FM sitharaman

Funds can be used for #MGNREGA or for Gram Sadak Yojana, will help accelerate rural economy.

Boost for project exports:

₹ 3,000 crore boost to be given for project exports through assistance given by India to developing countries under IDEAS Scheme

This will help EXIM Bank facilitate these Line of Credit development assistance activities and promote exports from India- FM

Boost for project exports:

₹ 3,000 crore boost to be given for project exports through assistance given by India to developing countries under IDEAS Scheme

This will help EXIM Bank facilitate these Line of Credit development assistance activities and promote exports from India

Capital and industrial stimulus:

₹ 10,200 crore additional budget stimulus will be provided for capital and industrial expenditure on defence equipment, industrial infrastructure and green energy

R&D grant for COVID vaccine development:

₹ 900 crore is being provided to @DBTIndia
for research activities related to #COVID19 vaccine development

This does not include cost of vaccine or logistics for vaccine distribution (whatever is required for that will be provided): FM

Additional expenditure:

The size of the stimulus being provided by the government, as part of the 12 announcements made today under #AatmaNirbharBharat 3.0, amounts to ₹ 2.65 lakh crore