{"id":229703,"date":"2020-05-17T09:46:20","date_gmt":"2020-05-17T04:16:20","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=229703"},"modified":"2023-10-03T17:32:03","modified_gmt":"2023-10-03T12:02:03","slug":"day-5-20-lakh-crore-economic-package-last-section-of-economic-tranche-to-be-unfurled-by-fm-today-at-11-pm","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/17\/day-5-20-lakh-crore-economic-package-last-section-of-economic-tranche-to-be-unfurled-by-fm-today-at-11-pm\/","title":{"rendered":"[Day-5] 20 Lakh Crore Economic Package | FM unfurls last crunch of economic stimulus; Non-Strategic PSUs to be Privatised by GOI; No fresh Insolvency proceedings upto 1 Year [Read Major Breakthroughs]"},"content":{"rendered":"<h3 style=\"text-align: center;\"><span style=\"color: #ff0000;\">LIVE UPDATES [17th May, 2020]:<\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><strong>Focus:<\/strong> MNREGA, Health, education, Business, De-Criminalisation of Co. Act, Ease of Doing Business, State Governments, Public Sector Enterprises.<\/li>\n<li style=\"text-align: justify;\">MGNREGA: Additional 40,000 Crore for the scheme<\/li>\n<li style=\"text-align: justify;\">Ramping up the health infrastructure: Districts to have Infectious Diseases Blocks; More Testing Labs (Both Pvt. &amp; Public)<\/li>\n<li style=\"text-align: justify;\">PM E-Vidya Program to be launched; One Nation One Digital Platform; One Class One Channel<\/li>\n<li style=\"text-align: justify;\">Debts related to pandemic, shall not be included in the category of default; No fresh Insolvency proceedings upto 1 Year; For MSMEs &#8212; A special insolvency framework will be notified under S. 240-A of IBC<\/li>\n<li style=\"text-align: justify;\">Decriminalised most of the Technical Defaults under Companies Act<\/li>\n<li style=\"text-align: justify;\">Decriminalisation of Companies Act defaults; 7 compoundable offences altogether dropped and 5 to be dealt with under alternative framework. The amendment will de-clog the criminal courts and NCLT<\/li>\n<li style=\"text-align: justify;\">Now, Indian public companies can list their securities directly in foreign jurisdictions. Private companies which list Non Convertible Debentures on stock exchanges will not be regarded as listed companies:<\/li>\n<li style=\"text-align: justify;\">All sectors allowed and opened for Private Companies<\/li>\n<li style=\"text-align: justify;\">Govt to announce a new public sector policy- a list of strategic sectors requiring presence of PSEs in public interest will be notified. In strategic sectors, at least 1 enterprise to remain in public sector but private sector to be allowed. In other sectors, PSEs to privatised<\/li>\n<li style=\"text-align: justify;\">Borrowing Limiting for States increased to 5%; Centre has decided to increase borrowing limits of states from 3 per cent to 5 per cent of Gross State Domestic Product (GSDP) for 2020-21.<\/li>\n<li style=\"text-align: justify;\">Overall stimulus package under the Atmanirbhar (self-reliant) Bharat amounts to Rs 20,97,053: Finance Minister Nirmala Sitharaman [ANI]<\/li>\n<\/ul>\n<blockquote>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ff0000;\"><strong>Breakup of the 20 Lakh Crore Package [PART WISE]<\/strong><\/span><\/h3>\n<ul>\n<li>Emergency W\/C Facility for Businesses, incl MSMEs &#8212; 3,00,000 Cr<\/li>\n<li>Subordinate Debt for Stressed MSMEs &#8212; 20,000 Cr<\/li>\n<li>Fund of Funds for MSMEs &#8212; 50,000 Cr<\/li>\n<li>EPF Support for Business and Workers &#8212; 2800 Cr<\/li>\n<li>Reduction in EPF Rates &#8212; 6750 Cr<\/li>\n<li>Special Liquidity scheme for NBFC\/HFC\/MFIs &#8212; 30,000 Cr<\/li>\n<li>Partial credit guarantee Scheme 2.9 for Liabilities of NBFCs\/MFIs &#8212; 30,000 Cr<\/li>\n<li>Liquidity Injection for DISCOMs &#8212; 90,000 Cr<\/li>\n<li>Reduction in TDS\/TCS Rates &#8212; 50,000 Cr<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>TOTAL: 5,94,550 CRORE<\/strong><\/span><\/p>\n<ul>\n<li>Free Food Grain supply to migrant workers for 2 months &#8211; 3500 Cr<\/li>\n<li>Interest Subvention for MUDRA Shishu Loans &#8212; 1500 Cr<\/li>\n<li>Special Credit Facility to Street Vendors &#8212; 5000 Cr<\/li>\n<li>Housing CLSS-MIG &#8212; 70,000 Cr<\/li>\n<li>Additional Emergency Working Capital through NABARD &#8212; 30,000 Cr<\/li>\n<li>Additional credit through KCC &#8212; 2,00,000 Cr<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>TOTAL: 3,10,000 CRORE<\/strong><\/span><\/p>\n<ul>\n<li>Food Micro Enterprises &#8212; 10,000 Cr<\/li>\n<li>Pradhan Mantri Matsya Sampada Yojana &#8212; 20,000 Cr<\/li>\n<li>TOP to TOTAL: Operation Greens &#8212; 500 Cr<\/li>\n<li>Agri Infrastructure Fund &#8212; 1,00,000<\/li>\n<li>Animal Husbandry Infrastructure Development Fund &#8212; 15,000<\/li>\n<li>Promotion of Herbal Cultivation &#8212; 4,000 Cr<\/li>\n<li>Beekeeping Initiative &#8212; 500 Cr<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>TOTAL: 1,50,000 CRORE<\/strong><\/span><\/p>\n<ul>\n<li>Viability Gap Funding &#8212; 8,100 Cr<\/li>\n<li>Additional MGNREGS allocation &#8212; 40,000 Cr<\/li>\n<\/ul>\n<\/blockquote>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>TOTAL: 48,100 CRORE<\/strong><\/span><\/p>\n<p><strong>Read below the reliefs offered by the Finance Minister, with the focus being MSMEs:<\/strong><\/p>\n<h3><strong><a href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/13\/finance-minister-may-announce-details-of-rs-20-lakh-crore-relief-announced-by-prime-minister-stay-tuned\/\">LIVE UPDATES<\/a>\u00a0[14-05-2020]\u00a0<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><strong>Focal point:<\/strong>\u00a0Liquidity, Labour, Law and Land.<\/li>\n<li style=\"text-align: justify;\">6 Major steps for MSMEs<\/li>\n<li style=\"text-align: justify;\">Collateral free Automatic Loans upto Rs 3 lakh Crores<\/li>\n<li style=\"text-align: justify;\">100 % credit guarantee<\/li>\n<li style=\"text-align: justify;\">Additional Funds for MSME revival<\/li>\n<li style=\"text-align: justify;\">Loans to be given till October 31st<\/li>\n<li style=\"text-align: justify;\">Rupees 20 Crore for stressed MSMEs<\/li>\n<li style=\"text-align: justify;\">50,000 Crore equity to be infused for viable and potential MSMEs<\/li>\n<li style=\"text-align: justify;\"><strong>New Definition of MSMEs \u2014 Investment can be upto 1 Cr and turnover upto 5 Crore<\/strong><\/li>\n<li style=\"text-align: justify;\">Global tender to be allowed upto Rs 20 Crores<\/li>\n<li style=\"text-align: justify;\">Other interventions for MSMEs<\/li>\n<li style=\"text-align: justify;\">Rs 2500 crores EPF support for businesses and Workers for 3 months<\/li>\n<li style=\"text-align: justify;\">EPF contribution reduced for Business and Workers for 3 months \u2014 Rs 6750 Crores<\/li>\n<li style=\"text-align: justify;\">Rs 30,000 crores liquidity facility for NBFC\/HCs\/MFIs<\/li>\n<li style=\"text-align: justify;\">Rs 45,000 Crores Partial Credit Guarantee Scheme 2.0 for NBFC<\/li>\n<li style=\"text-align: justify;\">Rs 90,000 CR liquidity injection for DISCOMs<\/li>\n<li style=\"text-align: justify;\">Relief to contractors<\/li>\n<li style=\"text-align: justify;\">Extension of registration and completion date of real estate projects under RERA; No individual applications needed; Suo Moto be done; Registered projects expiring on or after 25th March<\/li>\n<li style=\"text-align: justify;\">Rs 50,000 crores Liquidity through TDS\/TCS reductions till March 2021<\/li>\n<li style=\"text-align: justify;\">Tax filing due date extended to 30th November, 2020<\/li>\n<li style=\"text-align: justify;\">Pending refunds to charitable trusts and non-corporate businesses &amp; professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.<\/li>\n<li style=\"text-align: justify;\">Due date of all income tax return for FY2019-20 extended from 31st July, 2020 &amp; 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October, 2020.<\/li>\n<li style=\"text-align: justify;\">Date of Assessments getting barred on 30th September, 2020 extended to 31st December, 2020 and those getting barred on 31st March, 2021 will be extended to 30th September, 2021.<\/li>\n<li style=\"text-align: justify;\">Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><strong><a href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/14\/day-2-unfolding-of-20-lakh-crore-package-fm-to-announce-next-set-of-economic-reliefs-shortly-stay-tuned\/\">LIVE UPDATES<\/a>\u00a0[15-05-2020]:<\/strong><\/h3>\n<ul style=\"text-align: justify;\">\n<li><strong>FOCUS:<\/strong>\u00a0Migrant Workers, Street vendors, Small Farmer, Self Employed, Traders, etc.<\/li>\n<li><strong>9 Steps will be announced.<\/strong><\/li>\n<li><strong>14.62 crore person-days of work generated till 13th May 2020<\/strong><\/li>\n<li>10,000 crore actual expenditure till date<\/li>\n<li>National Floor Wage to be introduced<\/li>\n<li>Re-skilling of workers<\/li>\n<li>Universal minimum wages<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><strong>Reliefs<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify;\">Free food grain supply to all migrants for next 2 months [For non-card holders: 5 kgs of wheat or rice or 1 kg of chana]; State Governments to implement, Centre to borne costs<\/li>\n<li style=\"text-align: justify;\">One Nation One Ration card to be implemented within 3 months<\/li>\n<li style=\"text-align: justify;\">Affordable rented accommodation for migrants; Rental Housing Scheme;Migrant Workers \/ Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under<\/li>\n<li style=\"text-align: justify;\">Mudra Shishu Loans:\u00a0<span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">Government of India will provide Interest subvention of 2% for prompt\u00a0\u00a0<\/span><span class=\"r-18u37iz\">MUDRA<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">\u2013 Shishu Loans payees for a period of 12 months; Relief of Rs 1500 cr to MUDRA-Shishu loanees<\/span><\/li>\n<li style=\"text-align: justify;\">Special Credit facility for Street Vendors: Easy access to credit; Rs 5000 cr Special Credit Facility<\/li>\n<li style=\"text-align: justify;\"><strong>Middle Income Group\u00a0<\/strong>with upto 6 to 18 lakh income group:\u00a0<strong>Credit link subsidy scheme for housing<\/strong>\u00a0to be extended till March 2021; 2.5 lakhs middle income families to benefit during 2020-21<\/li>\n<li style=\"text-align: justify;\"><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">To create job opportunities for\u00a0<\/span><span class=\"r-18u37iz\">Tribals<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">\u00a0\/Adivasis-Plans worth Rs 6000 crores to be approved shortly under Compensatory Afforestation Management &amp; Planning Authority (<\/span><span class=\"r-18u37iz\">CAMPA<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">) Funds<\/span><\/li>\n<li style=\"text-align: justify;\">Rs 30,000 Crore additional emergency working capital fund through NABARD<\/li>\n<li style=\"text-align: justify;\">Kisan Credit Card: 2 lakh Crore concessional credit for farmers;<span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">\u00a02 lakh crore Concessional credit boost to 2.5 crore farmers through\u00a0<\/span><span class=\"r-18u37iz\">KisanCreditCards<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">; Fishermen and Animal Husbandry farmers will also be included in this drive<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/15\/live-day-3-third-tranche-of-economic-relief-to-be-unfolded-by-finance-minister-stay-tuned\/\"><strong>Live Updates [16-05-2020]<\/strong><\/a><\/h3>\n<ul style=\"text-align: justify;\">\n<li><strong>Focal Point: Agriculture<\/strong><\/li>\n<li>One lakh Crore for \u2014 Strengthening Farming Infrastructure; Cold Storage, Grain Storage, etc.; Funding Agriculture Infrastructure Projects at farm-gate &amp; aggregate points.<\/li>\n<li>Rs 10, 000 Crore for boosting local products for Global sale;Vocal for Local with Global outreach; Formalisation of Micro Food Enterprises<\/li>\n<li>Rs 20,000 crores for Fishermen through Pradhan Mantri Sampada Yojana<\/li>\n<li>100% vaccination of livestock;National Animal Disease Control Programme launched<\/li>\n<li>Animal\u00a0 Husbandry infrastructure fund \u2014 Rs, 15,000 Crores<\/li>\n<li>Rs 4000 Crores to promote herbal cultivation in India that aims to cover 10 lakh hectare under herbal cultivation in 2 years; Corridor of medical plants to come up across banks of Ganga<\/li>\n<li>Rs 500 Crores for Beekeeping initiatives<\/li>\n<li>500 crore for improving supply chain of fruits, vegetables, etc.;Govt. extends Operation Greens from Tomatoes, Onion and Potatoes to all fruits and vegetables<\/li>\n<li>Amendment to Essential Commodities Act<\/li>\n<li>Farmers &amp; Farmers getting adequate choice to sell their produce at attractive price: Central Law to be introduced;<\/li>\n<li>Law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce attractive price.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><strong><a href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/16\/live-day-4-unravelling-of-20-lakh-crore-package-fm-to-shortly-crack-the-4th-tranche-of-economic-relief-package-stay-tuned\/\">LIVE UPDATES [16-05-2020]<\/a>:<\/strong><\/h3>\n<ul style=\"text-align: justify;\">\n<li><strong>Focal Point:<\/strong>\u00a0Structural Reforms<\/li>\n<li>Reforms 8 Sectors: Coal, Minerals, Defence Production, Airspace Management, MRO, Distribution Companies in UTs, Space Sector, Atomic Energy<\/li>\n<li>Coal: Commercial Mining of Coal on a revenue sharing basis; Liberalised Entry for people, Incentives for those who produce before the deadline; 50,000 Crore for coal evacuation infrastructure<\/li>\n<li>Mining of Minerals: Seamless composite exploration cum mining cum production regime to be introduced; Removal of difference between captive and non captive mines; Mineral index; Rationalisation of stamp duty; 500 mining blocks would be offered through this transparent auction process<\/li>\n<li>Restriction on imports of certain weapons;Ordinance factory board to be corporatised; Foreign Direct Investment limit in defence manufacturing under automatic route is being raised from 49% to 74%<\/li>\n<li>Civil Aviation :Airspace Management rationalised; 6 more airports to be auctioned; additional investment in 12 airports for world-class facility; Rs 13,000 cr additional investment by private players in 12 airports; Airports Authority of India has awarded 3 airports out of 6 bid for operation &amp; maintenance on Public-Private Partnership (PPP) basis<\/li>\n<li>Power Distribution Companies in UTs shall be Privatised in line with tariff reform scheme; A Tariff policy with reforms will be released, including consumer rights, promotion of industry and sustainability of sector<\/li>\n<li>Privatisation of distribution in Union Territories \u2013 sub-optimal performance of power distribution &amp; supply, power departments\/utilities in Union Territories will be privatised<\/li>\n<li>Rs 8,100 crore outlay for viability gap funding in social infrastructure, by increasing the quantum from 20% to 30%<\/li>\n<li>Liberal Geospatial Policy; Private Sector Participation to be increased; Private players can be allowed to use ISRO\u2019s facilities; Indian private sector will be a co-traveller in India\u2019s space sector journey. Will provide a level-playing field for private companies in satellites, launches &amp; space-based services:<\/li>\n<li>Atomic Energy Reforms: Research Atomic Reactor in PPP Mode; Atomic Energy-related reforms; link India\u2019s robust start-up ecosystem to the nuclear sector \u2013 Technology Development cum Incubation Centres will be set up for fostering synergy between research facilities and tech entrepreneurs<\/li>\n<\/ul>\n<div class=\"sharedaddy sd-sharing-enabled\" style=\"text-align: justify;\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LIVE UPDATES [17th May, 2020]: Focus: MNREGA, Health, education, Business, De-Criminalisation of Co. Act, Ease of Doing Business, State Governments, Public Sector <\/p>\n","protected":false},"author":8808,"featured_media":229459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[41362,41380,41323,36234],"class_list":["post-229703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news","tag-20-lakh-crore-package","tag-atma-nirbhar-bharat-abhiyan","tag-economic-package","tag-finance-minister"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[Day-5] 20 Lakh Crore Economic Package | FM unfurls last crunch of economic stimulus; Non-Strategic PSUs to be Privatised by GOI; No fresh Insolvency proceedings upto 1 Year [Read Major Breakthroughs] | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/17\/day-5-20-lakh-crore-economic-package-last-section-of-economic-tranche-to-be-unfurled-by-fm-today-at-11-pm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[Day-5] 20 Lakh Crore Economic Package | FM unfurls last crunch of economic stimulus; Non-Strategic PSUs to be Privatised by GOI; No fresh Insolvency proceedings upto 1 Year [Read Major Breakthroughs]\" \/>\n<meta property=\"og:description\" content=\"LIVE UPDATES [17th May, 2020]: Focus: MNREGA, Health, education, Business, De-Criminalisation of Co. 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