The last phase of FM announcements and distribution of 20 lakh crores completed in Delhi via a press conference. The conference started at 11 am. The total package now accounts for 20 lakh 97 thousand 53 crores instead of 20 lakh crore. The government included 1 lakh 92 thousand 800 crores of the announcement made by PM Modi.
The loss due to the tax rebate which was given 22 March is also included in this package. The total loss accounts for around 7,800 crores. The different announcements made by RBI for around 8 lakh crores is also now a part of this package.
the first press conference on Wednesday that continued for 1 hour 29 minutes in which 15 announcements were made for 5.94 lakh crores. The second press conference took place on Thursday which continued for 1 hour 35 minutes in which 9 announcements were made for 3.10 lakh crores.
The third conference continued for 1 hour 7 minutes in which 11 announcements were made for 1.50 lakh crores and it took place on Friday. The fourth phase of the conference took place yesterday that continued for 1 hour 8 minutes in which 8 announcements were made for 8100 crores. The final conference took place today which continued for 1 hour 58 minutes in which 8 announcements were made for 40,000 crores.
The whole package was unfolded in 5 days, 7 hour 30 minutes with 51 announcements for 11.02 lakh crores. The rest money holds the announcements from 22 march to 12 May for 1.92 lakh crore. Then comes the RBI announcements for 8 lakh crore.
Coming towards today’s conference. In the last phase, 8 announcements were made and it continued for around 2 hours.
40,000 crores are announced for MNREGA. This is the extra fund. The migrant labours returning to their villages will have ample work to do. In fact, they will get jobs during the monsoon season.
New hospitals will be constructed and labs will be increased on the block level. Public health labs will not only increase on the district level but also on the block level. The hospitals will be constructed in villages, town and city for the treatment of contagious diseases. The network of labs and monitoring will be strengthened. The investment will be increased on the organisation working on the ground level. ICMR will also help. National Digital Health Mission will be launched.
The announcement was made with respect to education. Pradhanmantri e-Vidhya programme will be launched. Through this programme, the digital education will be stronger. A channel will be fixed for the students of class 1 to class 12. 1 class and 1 channel. E-books can be accessed by QR codes. By this, 1 nation, 1 digital platform will be attained. The online courses will be started by the top 100 universities by 30 May. National Foundation Literacy and Numeracy Mission will be launched by December 2020.
The fourth announcement was towards bankruptcy. If a company announces itself as bankrupt due to Corona Virus then the government will not investigate. It will be beneficial to people who have a micro and small business and the companies which had an adverse effect of the corona. The limit of bankruptcy has been increased from 1 lakh to 1 crore.
The company Act will be made easy. If the reporting of CSR, the board is slightly incomplete or annual general meeting is a bit late then they will not be considered as a crime. Companies will get benefits, do not have to do the document formality. The offences on the basis of 40 sections will be removed.
The sixth announcement was made for ease of doing business for corporates. The private companies that kept non-convertible debentures in stock are now not listed as a company any more. The most benefited section of this announcement are start-ups and the companies run by 1 person.
All the sectors are now open for private sectors to invest but Pubic Sector Enterprise will play their role in important sectors. The private companies can also invest in companies where only the government invested.
The last announcement is that the states will get more money from the centre. The gross state domestic product was 3% until now. In 2020-21, this accounts for 6.41 lakh crore rupees. The percentage has been increased by 5% from 3%. The state has 4.28 lakh crore extra as of now and has utilised only 14%. The remaining 86% is also available for use. In one trimester they can keep the overdraft for 50 days instead of 32 days.