Highlights of Finance Minister’s fifth and final announcement of economic package
New Delhi, May 17: Union Minister Nirmala Sitharaman today announced the fifth tranche of the economic package.
The Finance Minister said that during the lockdown, the government had catered to all sections of society. Sitharaman also said that the package today would focus on seven sections. The focus was on MGNREGA, Health and Education, Businesses and Covid, decriminalisation of Company's Act, ease of doing business, Public Sector Enterprises related matters and state governments and resources related to state governments.
There would be an increase Rs 40,000 crore increase in allocation for MNREGS tp provide employment boost says Finance Minister. This will help 300 crore people in all.
The Finance Minister announced a Rs 40,000 crore increase in allocation for MNREGS to provide employment boost.
Public expenditure in health will be increased. This would be ramped up in both urban and rural areas the Finance Minister said.
All districts would have infectious disease health blocks, the finance minister said.
One earmarked TV channel has been announced. There would be more podcasts and radio also. There would be special e-content for impaired children the Finance Minster also said.
The companies will be helped to directly list securities in foreign jurisdictions. A public sector enterprise policy for a new self-reliant India was announced. Private sector will be allowed to take part in all sectors. Public sector will however continue to play an important role. A new policy will categorise the strategic sectors and the others, the Finance Minister also said.
Like the Centre, states are also facing sharp decline in the revenues. We have extended the support to the states. Revenue deficit grants to the state have been given on time.
The State Distastes Relief Fund was released on time. This happened in the first week of April the Finance Minister also said.
Centre has decided to accede to the request of the states and increased the borrowing limit from 3 to 5 per cent for 2020 and 2021.