Nirmala Sitharaman Announces Atmanirbhar Bharat 3.0 Measures To Aid Economic Fund
New Delhi, Nov 12: Union Finance Minister Nirmala Sitharaman made the announcement to the media on Thursday. The stimulus announcement will bring an effort to recover the affected areas affected by COVID-19 just before Diwali 2020.
As part of today's announcement under Atmanirvar Bharat 3.0, FM Nirmala Sitharaman launched the Self-Reliable India Employment Scheme aimed at increasing employment and job creation. It will be effective from 1st October 2020. Under the new project, any EPFO-registered employer will hire new employees or those who lost their jobs between March 1 and September 30 under the Awtmanivar Bharat Rogar scheme with additional benefits.
FM further highlighted that PMI, fuel consumption, GST collection, daily railway freight tonnage, bank loans have increased year after year.
Highlighting the success of several key items under Self-Reliant India 1.0, FM said that One Nation One Ration Card, a ration card in 28 states would cover 68.8 crore beneficiaries. Prime Minister Svyandhi has coverage in 30 states. Work is being done on the portal for migrant workers. Credit will be given to 2.5 crore farmers through Kisan Credit Card.
He further mentioned that under the special liquidity scheme for NBFCs / HFCs, disbursement of Rs. 7,227 crore has been completed.
The momentum came after the Union Cabinet approved PLI projects in 10 sectors, under which traders would get incentives worth over Rs 2 lakh crore in five years. The project aims to increase India's manufacturing capacity as well as exports. "It will represent Indian manufacturers in a globally competitive market, attract investment and boost exports," said Union Minister Prakash Javadekar.
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