Dharmendra Pradhan thanks PM Modi & FM Sitharaman for economic package to combat COVID-19

Union Minister Dharmendra Pradhan on Sunday thanked the central government for the proactive measures in combating the challenges of COVID-19. He said that focus on land, labour, liquidity and law, and the economic stimulus will help convert the crisis into an opportunity and propel India towards self-reliance.

Earlier today, Sitharaman said that the government will soon come up with a new policy for public sector enterprises and all sectors of the economy will be open for private entities. She made a series of announcements after Prime Minister Narendra Modi announced a special economic package of Rs 20 lakh crore to deal with COVID-19 situation in the country. 

Pradhan said the announcements made by FM Sitharaman will have "far-reaching effects" on people from every walk of life and further the efforts towards making better opportunities. The minister also said that the well-being of everyone is at the core of the 'Aatmanirbhar Bharat' (self-reliant India).

 

He stressed that announcements made over the last four to five days will address issues faced by businesses, strengthen Ministry of Micro, Small and Medium Enterprises (MSMEs), empower the country's entrepreneurs and farmers, boost growth and employment, mitigate challenges, spur economic growth and create opportunities for 'self-reliant India'. It will also further the vision of a healthier India and prepare us for future pandemics, he further added. 

READ: Centre announces new Public Sector Enterprises policy, most sectors to be open to privates

READ: These are all 5 tranches and 50 measures of India's 'Aatmanirbhar Bharat' economic package

Sitharaman unveils fifth tranch of the economic package

Currently, there are 90,927 confirmed novel coronavirus cases in India out of which 34,109 patients have been discharged and 2,879 casualties have been reported. Sitharaman unveiled the fifth and the last tranche of the economic package on Sunday. The Centre has decided to allocate Rs.40,000 crore under MNREGA to help generate nearly Rs 300 crore person-days. This shall also boost the rural economy and the creation of livelihood assets. Public expenditure on health will be increased and measures such as Infectious Diseases Hospital Blocks in all districts, the National Digital Health Mission would be undertaken to prepare the country for future epidemics

Moreover, the PM eVidya- a programme for multi-mode access to digital education shall be launched immediately and the top 100 universities will be permitted to automatically commence online courses by May 30. Sitharaman also elaborated on Ease of Doing Business reforms and the formulation of a new Public Sector Enterprises whereby all sectors would be open to the private sector. At the same time, at least one enterprise will remain in the public sector in strategic sectors.

Furthermore, she announced the decriminalisation of the Companies Act violations involving technical and procedural defaults with 7 compoundable offences being dropped and 5 others to be dealt with under an alternative framework. Additionally, she mentioned that the Centre had decided to increase the borrowing limits of state governments from 3% to 5% in 2020-21. Overall, the Atmanirbhar Bharat economic package totals to Rs.20,97,053 crore.  

READ:  FM Sitharaman hikes states' borrowing limit to 5%, arms them with extra Rs 4.28 lakh crore

READ: Coronavirus Live Updates: India extends nationwide lockdown till May 31; cases at 90,927

(with inputs from ANI)