15:03 November 12
Size of stimulus amounts to Rs 2.65 lakh crores
The size of the stimulus being provided by the government, as part of the 12 announcements made today under Aatmanirbhar Bharat 3.0, amounts to Rs 2.65 lakh crores. 15% of national GDP as stimulus takeaway.
14:35 November 12
COVID Suraksha Mission
Rs 900 crores provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology
14:31 November 12
Capital and industrial expenditure
Rs 10,200 crore additional budget outlay will be provided towards Capital and industrial expenditure. Government announces an additional outlay for capital and industrial expenditure over the budget announcement this year. It will be spent on domestic defence manufacturing and road construction.
14:31 November 12
EXIM Bank
Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc
14:30 November 12
PM Garib Kalyan Rozgar Yojana
An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year, to boost rural employment. So far the government has spent Rs 33,543 crore spent in 116 districts under PM Garib Kalyan Yojana. It follows increased allocation in MGNREGA. Govt has so far released Rs 73,504 crore under MGNREGA.
14:29 November 12
Rs 6000 Crores of Equity to Debt Platform of NIIF
Government is giving Rs 6000 Crores of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in. NIIF itself has invested Rs 2000 Crores.
So, by 2025 they will have to fund projects to the extent of Rs 1,10,000 Crores. We are creating this avenue for them to do it even through Debt Market
14:29 November 12
To ensure adequate availability of fertilisers
Rs 65,000 crores being given to ensure adequate availability of fertilisers to farmers to enable timely availability of fertilisers in the upcoming crop season. The government estimates that consumption of fertiliser will increase by over 17.8% over the consumption of 571 lakh metric tonne in 2019-20. It will benefit 140 lakh farmers.
14:16 November 12
Support for Construction & Infrastructure-Performance security on contract
Support for Construction & Infrastructure-Performance security on contract to be reduced to 3% instead of 5%. Earnest Money Deposit will not be required for tenders and will be replaced by Bid Security Declaration. Relaxations will be given till 31st December 2021
14:15 November 12
Income Tax Relief to home buyers to help clear inventory
Section 43CA of Income Tax Act permitted 10% differential in the circle rate and agreement value. Now it has been enhanced to 20%. It will be available till June next year. It will be applicable on the first sale of a house.
14:15 November 12
Ease of doing business and help the contractors
Performance Security will be reduced to 3%, instead of existing 5 to 10%. The scheme will be available till December 2021.
14:14 November 12
Prime Minister Awas Yojana:
FM announces Rs 18,000 crore additional allocation for PM Avas Yojana, it is in addition of Rs 8,000 crore announced in this year's budget. It will create 78 lakh new jobs, will boost steel and cement consumption. It will help ground 12 lakh houses and completion of 18 lakh houses.
It's for PMAY Urban.
13:54 November 12
Aatma Nirbhar Bharat Rozgar Yojana
It will benefit employees earning less than Rs 15,000 month.
13:49 November 12
The existing Emergency Credit Line Guarantee Scheme extended till 31st March 2021
13:41 November 12
FM Nirmala Sitharaman:
1 New employee will get subsidy who have joined after October 1
2. This aim of the scheme is to create new employment avenues to those employees who lost jobs during the pandemic period between March and September 2020.
3. Employee have to link their Aadhar card to get the benefit of EPFO scheme
13:41 November 12
FM Nirmala Sitharaman:
1. Additional emergency working capital funding for farmers of Rs 25,000 crore through Nabard.
2. Under the Emergency Credit Line Guarantee Scheme 1.0 that was announced for MSME sector Rs 2.05 lakh crore sanctioned to 61 lakh borrowers and out of this Rs 1.52 lakh crore disbursed.
3. This scheme was announced to meet working capital needs, operational liabilities and restart businesses impacted due the COVID-19 crisis.
13:32 November 12
FM Sitharaman:
13:27 November 12
FM Nirmala:
13:20 November 12
MoS Anurag Thakur:
13:16 November 12
MoS Anurag Thakur:
13:11 November 12
FM Nirmala Sitharaman:
4. GST collection rose 10 pc y-o-y in Oct, bank credit improved 5.1 pc; energy consumption growth trend higher
5. There is a strong recovery in the economy; active COVID-19 cases have declined, says FM Nirmala Sitharaman announcing stimulus package.
13:07 November 12
Mos Anurag Thakur:
13:00 November 12
12:36 November 12
LIVE: FM Nirmala Sitharaman to address media
New Delhi: The government is reportedly planning another stimulus package for the economy which could be finalised as early as Thursday.
There is talk of a $20 billion stimulus package in a series of packages that the government seems to be rolling out to boost the economy during the times of the Covid-19 pandemic.
The package would follow Wednesday's earlier announcement of production linked incentives (PLI) worth about $27 billion over five years for manufacturers in 10 sectors.
To give an impetus to the manufacturing sector, the Union Cabinet on Wednesday approved a mega PLI scheme for 10 sectors. The total outlay has been pegged at Rs 1,45,980 crore.
Announcing the decision, Union Finance Minister Nirmala Sitharaman said that the scheme would entail an expenditure of about Rs 2 lakh crore.
Top government functionaries are likely to finalise the stimulus package as early as Thursday, just days before Diwali.
While the PLI package is aimed at manufacturing sectors, the to be announced stimulus package could focus on employment creation and also putting money in the hands of the consumers.
Diwali marks the big festive purchasing season for consumers and the government has over the years announced economy boosters around Diwali.
In October 2017, just before Diwali, the government had announced cuts in GST rates on around 27 items, mostly consumer goods, along with some other incentives.
In September last year, again just around the festival season, Finance Minister Nirmala Sitharaman had announced a Rs 1.45 lakh crore corporate tax rate cut, bringing in an early Diwali.
(With inputs from agency)
Also Read: Govt employees can make purchases in family member's name under LTC cash voucher plan
15:03 November 12
Size of stimulus amounts to Rs 2.65 lakh crores
The size of the stimulus being provided by the government, as part of the 12 announcements made today under Aatmanirbhar Bharat 3.0, amounts to Rs 2.65 lakh crores. 15% of national GDP as stimulus takeaway.
14:35 November 12
COVID Suraksha Mission
Rs 900 crores provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology
14:31 November 12
Capital and industrial expenditure
Rs 10,200 crore additional budget outlay will be provided towards Capital and industrial expenditure. Government announces an additional outlay for capital and industrial expenditure over the budget announcement this year. It will be spent on domestic defence manufacturing and road construction.
14:31 November 12
EXIM Bank
Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc
14:30 November 12
PM Garib Kalyan Rozgar Yojana
An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year, to boost rural employment. So far the government has spent Rs 33,543 crore spent in 116 districts under PM Garib Kalyan Yojana. It follows increased allocation in MGNREGA. Govt has so far released Rs 73,504 crore under MGNREGA.
14:29 November 12
Rs 6000 Crores of Equity to Debt Platform of NIIF
Government is giving Rs 6000 Crores of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in. NIIF itself has invested Rs 2000 Crores.
So, by 2025 they will have to fund projects to the extent of Rs 1,10,000 Crores. We are creating this avenue for them to do it even through Debt Market
14:29 November 12
To ensure adequate availability of fertilisers
Rs 65,000 crores being given to ensure adequate availability of fertilisers to farmers to enable timely availability of fertilisers in the upcoming crop season. The government estimates that consumption of fertiliser will increase by over 17.8% over the consumption of 571 lakh metric tonne in 2019-20. It will benefit 140 lakh farmers.
14:16 November 12
Support for Construction & Infrastructure-Performance security on contract
Support for Construction & Infrastructure-Performance security on contract to be reduced to 3% instead of 5%. Earnest Money Deposit will not be required for tenders and will be replaced by Bid Security Declaration. Relaxations will be given till 31st December 2021
14:15 November 12
Income Tax Relief to home buyers to help clear inventory
Section 43CA of Income Tax Act permitted 10% differential in the circle rate and agreement value. Now it has been enhanced to 20%. It will be available till June next year. It will be applicable on the first sale of a house.
14:15 November 12
Ease of doing business and help the contractors
Performance Security will be reduced to 3%, instead of existing 5 to 10%. The scheme will be available till December 2021.
14:14 November 12
Prime Minister Awas Yojana:
FM announces Rs 18,000 crore additional allocation for PM Avas Yojana, it is in addition of Rs 8,000 crore announced in this year's budget. It will create 78 lakh new jobs, will boost steel and cement consumption. It will help ground 12 lakh houses and completion of 18 lakh houses.
It's for PMAY Urban.
13:54 November 12
Aatma Nirbhar Bharat Rozgar Yojana
It will benefit employees earning less than Rs 15,000 month.
13:49 November 12
The existing Emergency Credit Line Guarantee Scheme extended till 31st March 2021
13:41 November 12
FM Nirmala Sitharaman:
1 New employee will get subsidy who have joined after October 1
2. This aim of the scheme is to create new employment avenues to those employees who lost jobs during the pandemic period between March and September 2020.
3. Employee have to link their Aadhar card to get the benefit of EPFO scheme
13:41 November 12
FM Nirmala Sitharaman:
1. Additional emergency working capital funding for farmers of Rs 25,000 crore through Nabard.
2. Under the Emergency Credit Line Guarantee Scheme 1.0 that was announced for MSME sector Rs 2.05 lakh crore sanctioned to 61 lakh borrowers and out of this Rs 1.52 lakh crore disbursed.
3. This scheme was announced to meet working capital needs, operational liabilities and restart businesses impacted due the COVID-19 crisis.
13:32 November 12
FM Sitharaman:
13:27 November 12
FM Nirmala:
13:20 November 12
MoS Anurag Thakur:
13:16 November 12
MoS Anurag Thakur:
13:11 November 12
FM Nirmala Sitharaman:
4. GST collection rose 10 pc y-o-y in Oct, bank credit improved 5.1 pc; energy consumption growth trend higher
5. There is a strong recovery in the economy; active COVID-19 cases have declined, says FM Nirmala Sitharaman announcing stimulus package.
13:07 November 12
Mos Anurag Thakur:
13:00 November 12
12:36 November 12
LIVE: FM Nirmala Sitharaman to address media
New Delhi: The government is reportedly planning another stimulus package for the economy which could be finalised as early as Thursday.
There is talk of a $20 billion stimulus package in a series of packages that the government seems to be rolling out to boost the economy during the times of the Covid-19 pandemic.
The package would follow Wednesday's earlier announcement of production linked incentives (PLI) worth about $27 billion over five years for manufacturers in 10 sectors.
To give an impetus to the manufacturing sector, the Union Cabinet on Wednesday approved a mega PLI scheme for 10 sectors. The total outlay has been pegged at Rs 1,45,980 crore.
Announcing the decision, Union Finance Minister Nirmala Sitharaman said that the scheme would entail an expenditure of about Rs 2 lakh crore.
Top government functionaries are likely to finalise the stimulus package as early as Thursday, just days before Diwali.
While the PLI package is aimed at manufacturing sectors, the to be announced stimulus package could focus on employment creation and also putting money in the hands of the consumers.
Diwali marks the big festive purchasing season for consumers and the government has over the years announced economy boosters around Diwali.
In October 2017, just before Diwali, the government had announced cuts in GST rates on around 27 items, mostly consumer goods, along with some other incentives.
In September last year, again just around the festival season, Finance Minister Nirmala Sitharaman had announced a Rs 1.45 lakh crore corporate tax rate cut, bringing in an early Diwali.
(With inputs from agency)
Also Read: Govt employees can make purchases in family member's name under LTC cash voucher plan
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