Finance minister Nirmala Sitharaman on Thursday announced a set of measures for the economy in the wake of the coronavirus disease pandemic. This is yet another stimulus package ahead of Diwali on Saturday.“I am announcing the Atmanirbhar Bharat Rozgar Yojana which will incentivize creation of new employment opportunities during the Covid-19 recovery phase.
1. Atmanirbhar Bharat Rozgaar Yojana
New scheme Aatmanirbhar Bharat Rozgar Yojana is being launched to incentivize job creation during COVID-19 recovery, FM Sitharaman said.
2. Emergency Credit Line Guarantee Scheme
The existing Emergency Credit Line Guarantee Scheme has extended till 31st March 2021.
3. Production Linked Incentive
Production Linked Incentive worth 1.46 lakh crore is being offered to 10 champion sectors, this will help boost the competitiveness of domestic manufacturing. This will give a big boost to the economy, investment, exports and job creation, FM Sitharaman said.
4. Rs 18,000 crore for PM Awaas Yojana
Finance Minister announced an additional outlay of Rs 18,000 crore for PM Awaas Yojana - Urban which will help ground 12 lakh houses and complete 18 lakh houses.
5. Support for Construction and Infrastructure
6. Demand booster for Residential Real Estate
7. Rs 1.1 lakh crore Platform for Infra Debt Financing
The government will make Rs 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise Rs 1.1 lakh crore by 2025 for financing infrastructure projects, Nirmala Sitharaman said.
8. Support for Agriculture
9. Boost for Rural Development
10. Boost for Project Exports
11. Capital and Industrial Stimulus
12. R&D grant for COVID vaccine development
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₹ 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)
- @nsitharaman#AatmaNirbharBharat 3.0 pic.twitter.com/tKuD4h6VIq