Updated: May 24, 2020
Today’s announcements by Nirmala Sitharaman was the last leg of the ₹20 lakh crore economic package.
Here Are The Key Points From Today's Announcement -
7 steps were announced today -- MGNREGA, health (rural and urban), education, business and COVID, decriminalization of Companies Act, ease of doing business, public sector enterprises, and state governments' resources.
The definition of "COVID-related debt" will be announced soon in a notification.
RBI measures of ₹801,603 included in ₹20 lakh crore economic package.
The total stimulus package is worth ₹20,97,053 crore. Fourth and fifth tranche is worth ₹48,100 crores. Stimulus measures announced in the third part was ₹1.5 lakh crore. The second tranche was worth ₹310,000 crores. The first tranche was worth ₹594,500 crores. Stimulus measures from earlier announcements were worth ₹192,800 crores. Revenue loss due to tax concession - ₹7,800 crore. This will give states extra resources of ₹4.28 lakh crore.
The number of PSUs in strategic sectors will be a maximum of four. Others will be privatized or merged. In certain sectors, PSUs will be privatized.
Lower penalties for all defaults for small companies, one-person companies, producer companies, and start-ups.
Companies listing only NCDs on a stock exchange will not be regarded as listed companies.
The minimum threshold to initiate insolvency proceedings raised to ₹1 crore from ₹1 lakh.
The amendments in the Companies Act will de-clog criminal courts and NCLT.
Top 100 universities will be permitted to automatically start online courses by May 30 this year.
Extensive use of radio, community radio, and podcasts for education.
One TV channel will be earmarked for every class from 1 to 12.
Govt to allocate an additional ₹40,000 crores for MGNREGA to provide an employment boost.
The central govt has already announced₹15,000 crore healthcare funds. to fight Covid-19.
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