Highlights of Self Reliant India 2.0 of Rs 20 Lakh Crores Economic Package By CS Dhrumil Gokani


PM Modi’s Mantra for New India Be Vocal for Local to make it Global”.
 
First Part Emphasized on MSMEs, NBFCs, TCS/TDS for Employees, EPF, and others
 
Now the 2.0 Emphasize on Help for Migrant Workers, Farmers, Traders and Vendors mainly.
 
Being a Professional, now let’s take this opportunity to Motivate and Encourage our People to produce and manufacture things in India and make our Country proud with the label “Made in India”.
 
Key Takeaways:
 
1. Help for farmers and migrant workers in the Post-Covid period:

  • 3 crore marginal farmers availed loans at concessional rates. These 3 cr farmers had already benefited from Rs 4 lakh crore of loans given to them. The RBI moratorium has also benefited them.
  • Interest subvention and prompt repayment incentive on crop loans, due from March 1, extended up to May 31, 2020. 25 lakh new Kisan Credit Cards sanctioned with a loan limit of Rs 25,000 crore.
  • Central govt released Rs 11,002 crore in advance to states to augment the SDRF funds for helping states to set up shelters for migrant workers and provide them food.
  • For migrant workers who have returned to their homes, work is being made available through MGNREGS. Till May 13, 14.62 Crs person-days of work generated. Work offered to 2.33 Crores wage seekers yesterday in 1.87 lakh gram panchayats.
2. MUDRA Shishu loan

Those who have availed loans up to Rs 50,000, an interest subvention of 2% for next 12 months after the moratorium period extended by RBI ends. Three crore people will get benefit of Rs 1500 crore.
 
3. Street Vendor

Special scheme for street vendors to avail Rs 5,000 crore loan facility. Will be given Rs 10,000 of working capital.
 
4. Affordable Housing- House of Your Dream

Credit-linked subsidy scheme for middle income households in the income group Rs 6-18 Lakhs extended to March 2021. The CLSS scheme was operationalised from May 2017 and extended up to March, 2020. Now, it has been extended till March 2021.
 
This will lead to investments of Rs 70,000 crores in housing and kickstart sectors like steel, cement and create jobs.
 
  • More Job Opportunities for New India. Let Your Innovations Lead India among the world.
5. The government is extending Rs 30,000 crores additional capital emergency funds through NABARD for post-harvest Rabi and Kharif related activities for small and marginal farmers.
 
  • May be this could boost farmers to join a Producer Company by adding Quality to their products.
6. Under the PM Kisan Credit Card, Rs 2 lakh crores of concessional credit to boost farming activities and it will benefit 2.5 crores farmers. Those in animal husbandry and fisheries will also be included.

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