Aatmanirbhar Bharat Package / Initiatives for Businesses Including MSME's
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Aatmanirbhar Bharat Package / Initiatives for MSME’s
PM Modi has announced Atmanirbhar Bharat Abhiyan (आत्मनिर्भर भारत अभियान) – a Rs 20 lakh Crore package to revive the Indian economy. Five pillars of Atmanirbhar Bharat Economy, Infrastructure, System, Vibrant Demography, and Demand. A special economic and comprehensive package of Rs 20 lakh crores equivalent to 10 % of India s GDP.
There have been six major initiatives taken by the Narendra Government under the Aatm Nirbhar Bharat Abhiyan (Self-Reliant India Package) (Rs 7.35 Lacs Crore ) as following:
3 lakh crore for MSME Sector – The central govt. will provide collateral-free loans to facilitate MSMEs. These loans will have 4 years’ tenure and will get moratorium of 12 months. Approx. 12 crore workers would be benefited.
Subordinate Debt-based scheme – Rs. 20,000 for Stressed and NPA MSMEs. Around 2 lakh stressed and NPA MSMEs to benefit.
Fund of Funds – Rs. 50,000 crore of equity infusion into those who have potential and doing viable business.
A change in the definition of MSMEs – Investment limit for MSMEs is revised upward (investment size), additional criteria i.e turnover (turnover size) would be taken into consideration. Moreover, the differentiation b/w manufacturing and service MSME will be removed.
Global Tender to be Disallowed upto Rs. 200 cr – Govt. procurement tenders upto 200 crore will no longer be on global tender group.
Other Interventions for MSMEs – E-market linkage would be provided across the board in absence of trade fairs to promote e-commerce. Within 45 days, CPSEs and Govt. of India will clear their receivables.
Aatmanirbhar Bharat Package / Initiatives for Businesses Including MSME’s
Aatma Nirbhar Bharat Abhiyan / Self Reliant India Scheme Package for businesses including MSME’s Complete Details Download in PDF format. Aatma Nirbhar Bharat Abhiyan Scheme Complete package PDF include following information:
– What is Prime Minister’s Vision Behind it’s Launch
– Pradhan Mantri Garib Kalyan Yojana
– Measures taken by the Reserve Bank of India
– Business Including MSMEs
– Sectors to Benefit from Aatmanirbhar Bharat Abhiyan 2020
– Rs. 3 lakh crores collateral free automatic loans for business, including MSMEs
– Rs. 20,000 crores subordinate debt for stressed MSMEs
– Existing and revised definition of MSMEs
– Global tender to be disallowed upto Rs. 200 crores
– Other Interventions for MSMEs
– Rs. 2,500 Crores for EPF Support for business & workers for 3 more months
– EPF contribution reduced for 3 months Rs. 6760 crores for liquidity support
– Rs. 3,000 crores for special liquidity scheme for NBFCs / HFCs / MFIs
– Rs. 45,000 crores partial credit guarantee scheme 2.0 for NBFCs
– Rs. 90,000 crores liquidity injection for DISCOMs
– Relief to contractors
– Extension of registration and completion date of real estate projects under RERA
– Rs. 50,000 crores liquidity through TDS / TCS rate reduction
– Other Direct tax measures
As per the government, the financial package will help revive every branch of the economy – from demand, supply chain to manufacturing. The Atmanirbhar Bharat economic package will help cottage industries, home industry, small-scale industries, MSMEs, which are the means of livelihood for crores of people. This package is also for farmers, who toil in different weather conditions and for the middle class who pay their taxes on time.