20 Lakh Crore Package Explained - Aatm Nirbhar Bharat Abhiyan | Narendra Modi | Nirmala Sitharaman

There has been a lot of news about the Coronavirus going on right now and the steps that the government is taking during this time. Yesterday, our prime minister said in a speech that a stimulus package will be given in India about which Nirmala Sitharaman told us about in a lot of detail yesterday. The overall package stated that 10% of India's GDP, 20 lakh crores, is going to be given. In this video we tell you about which sector and how this package is going to be implemented.

#AatmNirbharBharatAbhiyan In this video we have explained the first tranche of 20 Lakh Crore Package announced by Prime minister Narendra Modi.

The first phase was the Pradhan Mantri Garib Kalyan package in which the government gave 1.7 lakh crores as relief. Even the RBI made an announcement that they took various steps because of which liquidity can be infused in the economy again. The main sectors impacted by the package are Cottage industry, MSME sector, labourers and middle class industry.

The top 5 announcements made were, every health worker will get a 50 lakh insurance, 20 crores women Jan Dhan account holders will be transferred rs 500 every month for the next 3 months. The wages for MNREGA was Rs 182 that has now been increased to Rs 202. Farmers will be given a payment of Rs 2000, the benefit of it will be 8.7 crores. Poor widows and poor Divyang workers will be given a payment of Rs 1000.

The first step taken by the RBI was reducing the cash reserve ratio, the liquidity enhancement will be 1,37,000 crores. Special liquidity fund of 50,000 crores was given to mutual funds, to remove liquidity concerns from mutual funds. If you have taken any term loan, you can take a moratorium of 3 months.

MSME stands for micro, small, medium enterprise sector. In micro, investment has to be less than 25 lakh crores, less than 5 crores in small and less than 10 crores in medium. In service enterprise, instead of 25 it was 10 lakhs, 2 crores instead of 5, 5 crores instead of 10. In the revised MSME classification, the manufacturing and services sector have been classified as one. Now, in micro your investment should be less than 1 crores and turnover less than 5 crores. In small, investment should be less than 10 crores and turnover less than 50 crores. In medium your investment should be less than 50 crores and turnover less than 100 crores. An automatic loan of 3 lakh crores will be given to businesses including MSMEs.

The government will make an equity financing of 50,000 crores. In the MSME sector, the government will make the financing fund of fund and in this a corpus of 10,000 crores will be set. Special measure of 30,000 crores will be given to the NBFC sector. The deadline for contractors to finish their work has been extended for 6 months. The TDS and TCS of non salaried people will be reduced by 25% because of which a liquidity of 50,000 crores will be infused. The deadline for filing income tax has been increased from 31 July 2020 to 31 October 2020.


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