June 15, 2024

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Finance Minister Nirmala Sitharaman critiques implementation of AatmaNirbhar Bharat bundle with secretaries



Nirmala Sitharaman smiling for the camera


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Banks have sanctioned further credit rating amounting to Rs 2,05,563 crore to 80,93,491 debtors beneath the Emergency Credit history Line Warranty Plan (ECLGS). The Rs 3 lakh crore ECLGS scheme was announced by the governing administration early this yr as aspect of AatmaNirbhar Bharat Offer (ANBP) to offer liquidity support of medium and little sector in the time of the pandemic.

As for every the development tracked by the Centre, as on December 4, prime 23 Personal Sector Banking institutions and 31 NBFCs, additional credit history amounting to Rs. 2,05,563 crore has been sanctioned, even though an volume of Rs. 1,58,626 crore has been disbursed to 40,49,489 debtors.

The plan was amended on November 26 and its duration has now been extended till December 31, 2021. Also, the turnover limit approved therein has been eliminated.

It is envisioned that 45 lakh models can resume business exercise and safeguard work through this scheme.

Finance Minister Nirmala Sitharaman on Friday concluded a thorough evaluation of ANBP with the secretaries of various Ministries/Departments anxious over a few days. The overview centered on crucial implementation concerns to endure that the package deal created the sought after final results.

As for every the progress report introduced in the course of the overview as on December 4, Community Sector Financial institutions (PSBs) have accredited invest in of portfolio of Rs. 27,794 crore and are currently in course of action of acceptance/negotiations for Rs. 1,400 crore underneath the Rs 45,000 crore Partial Credit Assure Scheme 2. for NBFCs. The timeline for buy of bonds or Business Papers (CPs) has been more prolonged until 31.12.2020. As of December 4, Rs. 25,000 crore has been disbursed out of this specific facility. Balance sum of Rs. 5,000 crore less than Specific Liquidity Facility (SLF) allotted to NABARD by RBI for scaled-down Non-Banking Economical Businesses (NBFCs) and Non-Banking Money Firms-Micro Finance Institutions (NBFCs-MFIs).

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

Additional, proposals amounting to Rs. 690 crore has been sanctioned to 6 NBFCs-MFIs out of the balance quantity of Rs 5,000 crore. Disbursement of Rs.130 crore has been completed until December 4.

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

Below AatmaNirbhar Bharat Bundle, it was announced that Distinctive fascination-cost-free 50-calendar year financial loans will be offered to states for funds expenditure for Rs. 12,000 crore. As on December 7, so significantly, 27 state governments have submitted proposals underneath the scheme for new and ongoing capital works/tasks.

Jobs amounting to Rs. 8455.61 crore less than Aspect-I and Portion-II of the Plan have been accepted so considerably and an amount of money of Rs. 4,227.80 crore, as very first instalment, has been introduced to the states.

Underneath the Rs. 90,000 crore Liquidity Injection for DISCOMs, as on December 10, Rs. 118,273 crore worthy of of financial loans have been sanctioned and Rs. 31,136 crore has currently been disbursed/produced. A different launch of Rs 30,000 crore to numerous states is underneath course of action.