Page 30 - NIS English December1-15

Economy
AatmaNirbhar Bharat Package 3.0

ANOTHER GROWTH STIMULUS

With the announcement of AatmaNirbhar Bharat package 3.0, the

Government comes up with another schemes of more than Rs 2.65 Lakh
Crore to give boost to the economy during pandemic

o provide stimulus to the economy, Union
Minister for Finance Nirmala Sitharaman
Tannounced yet another package of Rs
2.65 Lakh Crore as AatmaNirbhar Bharat
3.0. Announcing this on November 12, 2020,
the Finance Minister said that growth chart of
economy after AatmaNirbhar Bharat 1.0 and
2.0 is on the rise. With stock market showing a
steady rise, credit growth of banks has shown
an upward trend of 5.1 per cent. The Reserve
Bank of India's estimate of the economy is also
positive for the third quarter.
Total stimulus given in all the three tranche
worth Rs 29.87 Lakh Crore is 15 per cent of
the total Gross Domestic Product (GDP) of the
country. Emphasis has been laid on creating Due to COVID-19, Credit Guarantee
jobs in the new package with special initiatives Assistance Scheme is being launched for the
for agriculture, rural employment and real healthcare sector and 26 distressed sectors
estate. whose credit outstanding was recorded from
Rs 50 to 500 Crore on February 29, 2020.
THE NEW PACKAGE These entities will be given additional credit up
to 20 per cent of the outstanding. The period for

AATMANIRBHAR BHARAT ROZGAR repaying this additional credit will be 5 years,
YOJANA which includes a one-year moratorium on
Employees, who were not previously registered principal repair. The scheme is in force till March
for PF and whose salary is less than Rs 31, 2021. Institutions will get an additional loan
15,000, will get benefit of this scheme. For this, of up to 20 per cent of the outstanding loan,
the company has to be registered with EPFO. whose repayment can be made in five years
Those who did not have a job from August to time.
September but later joined the PF will also get RS 1.46 LAKH CRORE PLI TO 10 SECTORS
the benefit of this scheme. The scheme will Ten more Champion Sectors will be covered
remain in force till June 30, 2021. under Production Linked Incentives (PLI)
EMERGENCY CREDIT LINE GUARANTEE Scheme to help boost competitiveness of
SCHEME domestic manufacturing. A total amount of Rs
The Scheme for MSMEs, businesses, MUDRA 1.46 Lakh Crore has been earmarked across
borrowers and individuals (loans for business sectors for next five years. The ten sectors
purposes), has been extended till March included - Advance Cell Chemistry Battery,
31, 2021. Electronic/Technology Products, Automobiles
& Auto Components, Pharmaceuticals Drugs,

28 New India Samachar