July 16, 2024

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Finance Minister Nirmala Sitharaman assessments implementation of AatmaNirbhar Bharat deal with secretaries



Nirmala Sitharaman smiling for the camera


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Financial institutions have sanctioned further credit history amounting to Rs 2,05,563 crore to 80,93,491 debtors underneath the Unexpected emergency Credit Line Warranty Scheme (ECLGS). The Rs 3 lakh crore ECLGS plan was introduced by the authorities early this yr as section of AatmaNirbhar Bharat Package (ANBP) to offer liquidity support of medium and smaller sector in the time of the pandemic.

As per the progress tracked by the Centre, as on December 4, major 23 Personal Sector Banks and 31 NBFCs, additional credit rating amounting to Rs. 2,05,563 crore has been sanctioned, although an amount of Rs. 1,58,626 crore has been disbursed to 40,49,489 borrowers.

The plan was amended on November 26 and its length has now been prolonged until December 31, 2021. Also, the turnover limit prescribed therein has been taken off.

It is envisioned that 45 lakh units can resume small business action and safeguard jobs by means of this scheme.

Finance Minister Nirmala Sitharaman on Friday concluded a thorough critique of ANBP with the secretaries of many Ministries/Departments concerned around 3 times. The review centered on critical implementation issues to endure that the offer generated the wished-for effects.

As per the progress report presented during the evaluate as on December 4, Public Sector Banks (PSBs) have authorized purchase of portfolio of Rs. 27,794 crore and are at the moment in process of acceptance/negotiations for Rs. 1,400 crore underneath the Rs 45,000 crore Partial Credit Promise Scheme 2. for NBFCs. The timeline for invest in of bonds or Commercial Papers (CPs) has been further more prolonged till 31.12.2020. As of December 4, Rs. 25,000 crore has been disbursed out of this exclusive facility. Harmony quantity of Rs. 5,000 crore below Particular Liquidity Facility (SLF) allotted to NABARD by RBI for smaller Non-Banking Monetary Companies (NBFCs) and Non-Banking Fiscal Corporations-Micro Finance Institutions (NBFCs-MFIs).

Besides, NABARD had issued the rules on Oct 6 to roll out disbursement out of SLF for scaled-down NBFCs and NBFC-MFIs.

Even further, proposals amounting to Rs. 690 crore has been sanctioned to 6 NBFCs-MFIs out of the stability amount of Rs 5,000 crore. Disbursement of Rs.130 crore has been finished until December 4.

The Central Board of Direct Taxes (CBDT) has issued refunds of about Rs 1,45,619 crore to extra than 89.29 lakh taxpayers in between April 1, 2020 and December 8. Money Tax refunds of Rs. 43,274 crore have been issued in 87,29,626 situations and corporate tax refunds of Rs. 1,02,345 crore have been issued in 1,99,554 circumstances.

Below AatmaNirbhar Bharat Package, it was introduced that Unique interest-totally free 50-year loans will be given to states for money expenditure for Rs. 12,000 crore. As on December 7, so significantly, 27 condition governments have submitted proposals beneath the plan for new and ongoing funds will work/jobs.

Projects amounting to Rs. 8455.61 crore beneath Section-I and Portion-II of the Scheme have been authorised so far and an total of Rs. 4,227.80 crore, as initial instalment, has been produced to the states.

Beneath the Rs. 90,000 crore Liquidity Injection for DISCOMs, as on December 10, Rs. 118,273 crore value of financial loans have been sanctioned and Rs. 31,136 crore has now been disbursed/produced. One more release of Rs 30,000 crore to several states is under process.