FM Nirmala Sitharaman Press briefing to announce breakout of economic package for fifth day will be held at 11 am on May 17. It will be last day of Briefing under the Atmanirbhar Bharat Abhiyan. Its been 4 days of media briefing regarding the breakout of 20 lakhs Economic package. Day 1 focused on MSMEs,EPF,NBFCs and many more.
check out for more details on day 1 announcement.
Day 2 focused on Migrant workers,small farmers affordable housing.
Check out details of day 2 briefing.
Day 3 focused on agriculture and allied activities.
Check complete details of day 3 announcements.
Day 4 focused on various structural reforms in coal,mining,defence.
check out complete details of day 4 briefings.
Todays announcement will be focus on 7 key points.
- Health & education related steps
- Business & COVID
- Decriminalization of Companies Act
- Ease of doing business,
- Public sector enterprises
- State govt resources
The government has committed Rs. 15,000 crore for health-related measures so far for containment of COVID19 which includes Rs 50 lakh insurance per person for health professionals under Pradhan Mantri Garib Kalyan Yojana.
To prepare India for any future pandemics Government will increase Public Expenditure on Health and invest in grass root health institutions
Ease of doing business
Corporate Law measures for ease of doing business have included timely action during COVID–19 to reduce compliance burden under various provisions of the Companies Act.
With an eye on further enhancement of Ease of Doing Business Government announces suspension of fresh initiation of insolvency proceedings up to one year; decides to exclude COVID 19 related debt from the definition of “default” under IBC.
Government moves to decriminalize Companies Act defaults; 7 compoundable offenses altogether dropped and 5 to be dealt with under alternative framework.
Further key reforms for Ease of Doing Business are in the pipeline including direct listing of securities by Indian public companies in permissible foreign jurisdictions.
Government has ensured Education of students does not suffer; SWAYAM PRABHA DTH channels have reached those who do not have access to the internet; DIKSHA platform has had 61 crore hits from 24th March.
PM eVIDYA – a programme for multi-mode access to digital/online education to be launched immediately; Top 100 universities will be permitted to automatically start online courses by 30th May.
To provide a fillip to employment, Government will now allocate an additional Rs 40,000 crore under MGNREGS; move will help generate nearly 300 crore person days in total.
Public Sector Enterprise
A new Atmanirbhar Bharat will stand on a new Public Sector Enterprise Policy In strategic sectors, at least one enterprise will remain in the public sector but the private sector will also be allowed In other sectors, PSEs will be privatized