Prime Minister Narendra Modi on Sunday, May 17, opined that the measures announced by Union Finance Minister Nirmala Sitharaman earlier in the day would have a "transformative impact" on the health and education sectors amid the novel coronavirus crisis. According to him, the steps shall revitalise the rural economy and boost entrepreneurship besides helping public sector units. The PM added that the reform trajectories of state governments would get an impetus because of the new measures.
Measures and reforms announced by the FM today will have a transformative impact on our health and education sectors. They will boost entrepreneurship, help public sector units and revitalise the village economy. Reform trajectories of the states will also get an impetus.— Narendra Modi (@narendramodi) May 17, 2020
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 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.
FM @nsitharaman announces Govt. Reforms & Enablers across Seven Sectors under #AatmaNirbharBharatAbhiyaan— PIB India #StayHome #StaySafe (@PIB_India) May 17, 2020
⏩Rs 40,000 crore increase in allocation for #MGNREGS to provide employment boost
⏩Increase borrowing limits of States from 3% to 5%